BOE's Mark Carney Proposes a Digital Reserve Currency

What do you get when you combine monetary wonks, the rising tide of protectionism, and an annual summer Fed retreat? First, a dry-as-sandpaper sentence like that. Second, a proposal from Bank of England Governor Mark Carney to create a reserve currency similar to Facebook's Libra.

As Carney sees it, a "synthetic hegemonic currency" could displace the U.S. dollar as the go-to for central banks and disrupt the greenback’s “domineering influence” on trade. If countries agree to get synthetic with Mark, the crypto could supplant the dollar as the world’s reserve currency.

There aren't too many details on what exactly this would look like. Regardless, let's just take a step back and think: Roughly a decade after bitcoin was invented, everyone from Facebook to central banks is dreaming up plans to create their own tokens.

It couldn't have happened in a more fitting location

Wyoming may be the least populous state, but it's one of the most crypto-friendly. It's passed legislation to turbocharge adoption and usage of cryptocurrencies statewide. No word on when you'll be able to pay in bitcoin to see the hot springs.