"Time to ditch the Dollar" - Bank of England Head

in #brainfeed5 years ago

The world is on the cusp of a paradigm shift in regards to 'money'.

With the US debt out of control, and China making massive movements in regards to electronic payments.
In China carrying cash or credit cards is no longer the norm, more than 50% of the population use their smartphones for daya to day purchases, far greater than any other country.
With the adoption of smartphone payments, China is in the box seat for the introduction of a payment system like WePay globally.

Obviously this would cause mass global political disruptions.

The Head of the BoE seems to think Libra or a look alike is the solution.

Slowly, slowly, step by step, BTC being a distributed system can and will take the role since Libra is nothing more than a white paper atm, while BTC has 10+ years of development and use.

The writing seems to be on the wall.

Time will tell

https://beincrypto.com/we-need-a-libra-like-virtual-reserve-currency-for-the-world-says-bank-of-england-governor/

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