Mark Carney, the Governor of Bank of England, has taken a vow to transform the central bank and prepare them for the “fourth industrial” revolution. Mark was a speaker at the Innovate Finance Global summit.
According to Mark Carney,
“Consumers and businesses increasingly expect transactions to be settled in real time, check out to become a historical anomaly, and payments across borders to be indistinguishable from those across the street.”
Although he doesn’t take Ripple’s name, the use case he describes fits perfectly with what Ripple has to offer.
Governor, Mark Carney: "New finance can unlock more sustainable and inclusive growth, provide consumers greater choice, SME businesses access to credit to grow – all of which ensures the financial system can become more resilient" #IFGS2019 pic.twitter.com/HDrjluZoeD
— Innovate Finance (@InnFin) April 29, 2019
Bank Of England, is not the only one to thinking of new finance for the industrial revolution 4.0. According to the World Bank report, over 40 central banks across the world were conducting research and/or implementing blockchain solutions for the next generation of financial technology.
“The second great wave of globalization is cresting. The Fourth Industrial Revolution is just beginning. And a new economy is emerging. That new economy requires new finance. A new finance to serve the digital economy, a new finance to support the major transitions underway across the globe, and a new finance to increase the financial sector’s resilience”.
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