Mark Carney today (June 28) urged central banks to embrace digital forms of public money or risk allowing tech firms to dominate the “new world” of money.

The former governor of the Bank of England said the world is moving towards a new monetary system, potentially with a greater role for distributed forms of finance. But he warned that past episodes in which different forms of private money fought for supremacy had led to inefficiency and instability.

The new monetary system, said Carney v

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