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French central banker says digital currency cannot be private
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French central banker says digital currency cannot be private
Digital currency could be useful as cash transactions dwindle in some countries but central banks should be in charge of issuing it, not private companies, Bank of France Governor Francois Villeroy de Galhau said on Saturday. Spurred by the rise of cryptocurrencies and Facebook's plans to launch its Libra currency, central banks worldwide are looking into the possibility of issuing digital money to prevent the loss of state control over money. Villeroy said the proposals were not a reaction to Facebook's plan, responding instead to fast-evolving technology and some banks' need for digital currency.
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