Carney warns CBDC delays play into hands of big tech

Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says

Mark Carney
Mark Carney
IMF Photograph/Cory Hancock

Mark Carney called on central banks today (June 28) to embrace digital forms of public money, or risk allowing tech firms to dominate a “new world” of money.

The former Bank of England governor said the world was heading for a new monetary system, potentially with a greater role for distributed forms of finance. But he cautioned that past episodes in which multiple forms of private money fought for supremacy led to inefficiency and instability.

The new monetary system, Carney said in the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account