Summary
Mark Carney is not a fan of the dollar’s status as the world’s reserve currency. The Bank of England governor told central bankers at a symposium in Jackson Hole last week that the world needs a change. And he doesn’t mean swapping one dominant currency for another. Instead, Carney said, the best solution would be a network of central bank digital currencies. Adam Sharp and Vin Narayanan discuss what this means for the Fed and for the dollar.
Facebook isn’t the only one trying to make a widely adopted stablecoin. Binance, the world’s largest crypto exchange by volume, is making a surprising move into stablecoins with its Venus project. Venus aims to develop localized stablecoins around the world. Adam explains how Binance is taking a different approach to regulators than Facebook… and the important advantage Binance has over Facebook.
Meanwhile, bitcoin continues to emerge as a flight to safety asset. Adam discusses what set it in motion.
If you’re interested in a particular topic, we’ve listed the time code on the right so you can skip directly to it in the video.
- Bank of England chief: Crypto should replace dollar as world’s reserve currency (0:28)
- Binance moving into stablecoins (5:53)
- Bitcoin continues to be a flight to safety (10:42)
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