TLDR
Bank of England Governor Mark Carney raised the possibility of the emergence of a “Synthetic Hegemonic Currency” (SHC) His remarks left the door open for this currency to emerge from the private, rather than government, sector sector. Sam Kazemian and Ralph Benko are co-founders of Facebook's rival cryptocurrency, Frax. They say Libra erred in tying to a basket of currencies rather than the dollar; in relying on full rather than fractional reserve and, with apologies to Alfred Owen Crozier, in adopting a centralized system of governance.via the TL;DR App
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Written by ralphbenko | General Counsel, F1r3fly.io, Buzz Aldrin Ventures; co-founder and chairman, The Capitalist League
