According to Bloomberg the Irish-Canadian Governor of the Bank of England (BOE), Mark Carney is onboard with cryptocurrencies. After listening to central bank colleagues and Janet Yellen’s remarks two weeks ago surrounded by members of the Chamber of Digital Commerce , it seems the governor will address the technology at his annual address in London.
Mark Carney has spent a lot of time with a career in central banking even before his BOE position he worked as the Governor of the Bank of Canada. Carney has probably been hearing a whole lot of noise surrounding the financial technology aspects of cryptocurrencies. Before the U.K.’s referendum, Carney will address cyber security and new concepts concerning monetary policy according to sources. Daniel Marovitz of the London-based firm Earthport tells Bloomberg : “The central bank adoption of a crypto version of a fiat currency would be a game changer. The move would show the technology can work in the real world and not just the laboratory.” The speech will address many attendees in the financial sector of London with his keynote speech. Many investors and central bankers are currently concerned with the upcoming Brexit debate and subsequent vote on June 23. Bloomberg also reveals the Chancellor of the Exchequer, George Osborne, will also be in attendance. This news also comes after BOE Deputy Governor Ben Broadbent explained his position concerning digital currencies and blockchain technology this past March. Broadbent seems pretty confident about the technology but also alludes in his speech that there’s a lot of legwork to be done. In his written report Broadbent says : “In principle, this technology could be applied to many things, not just the exchange and registering of financial assets. A recent official report in the UK suggested that distributed ledgers might eventually be used for […]
