Ex-United States Federal Reserve official Simon Potter stated that the plan to end the U.S. dollar’s dominance by replacing it with a digital currency makes no sense.
Last month, Governor of the Bank of England Mark Carney suggested ending the U.S. dollar’s dominance by replacing it with a digital currency, such as Facebook’s planned stablecoin, Libra. The Bank of England chief said that he considers this to be a better option than allowing it to be replaced by another national currency such as China’s renminbi.