Former US Federal Reserve senior manager Simon Potter said it makes no sense to replace the US dollar with digital currency as the world’s reserve currency.
Earlier, the head of the Bank of England, Mark Carney, expressed the view that it was time to stop using the US dollar as a global reserve currency and switch to a digital asset like Libra. However, Potter believes that Carney’s proposal does not take into account the benefits of using the dollar.
“I do not see any arguments in favor of such a difficult transition, especially since you always have large and liquid markets in the USA. If you do not have a single currency in which you can value things around the world, then life will become much more complicated, ”he stressed.
However, according to a former employee of the US Federal Reserve, it is unlikely that global central banks will be able to agree on the use of virtual currency.
“Central banks should be concerned that private banks may start using such currencies. State currency control protects citizens, while private companies are more interested in profits, ”Potter said.
In early September, Chairman of the Board of Governors of the US Federal Reserve Jerome Powell said that ordinary people do not need state cryptocurrencies and stable coins.
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