Jeremy discusses his message for Davos 2020: Support global stablecoins via public and private partnerships. Learn more!
When I travel to Davos next week, I’ll be advocating for the public and private sector to come together to support the development of global stablecoins backed by central bank money and regulated through new forms of public and private partnership.
Such an approach allows the private sector, including the broader open technical development community, to drive forward with technology and business model innovation, while also ensuring a reasonable standard for compliance and safety and soundness.
In short, it offers the best way to tackle a central question that world leaders must answer: How to reshape the global economic order in a way that creates wealth and value for people around the world?
Partnership between the public and private sector for stablecoins will help build an international monetary system that combines the strengths of global central bank money with the power of public blockchains. Through such an effort, it should become possible to establish a new global economic system that is more inclusive, integrated, stable, secure, and open to everyone in the world, ultimately helping to increase wealth creation for all.
I’ll be making my case on a variety of panels and by publishing the a paper — “Stablecoins, Global Digital Currency and the Future of the International Monetary System.”
This paper attempts to catalyze new thinking by laying out key topics global policy makers should consider as they chart a course forward for the global financial system and digital currencies during the next decade. In particular, the paper explores the opportunities and challenges posed by stablecoins like USD Coin (USDC).
Please read it and let me know your thoughts on Twitter: @jerallaire
