This week's Money Movement delved into the complex and multifaceted dimensions of global stablecoin governance. The discussion featured two incredible thought leaders on the subject: Sheila Warren, Head of Blockchain and Data Policy and Member of the Executive Committee for World Economic Forum, where she has spear-headed the formation of a Global Consortium for Digital Currency Governance, and Dante Disparte, the Vice-Chairman and Head of Policy and Communications for the Libra Association, an emerging global stablecoin arrangement with broad industry backing. Money Movement host and Circle CEO Jeremy Allaire joined in the discussion representing Centre as co-founder and director of the consortium behind the USDC global stablecoin standard.
The rapid rise of global stablecoins has prompted coordinated regulatory responses, while governments and large financial industry actors examine the opportunities and risk of digital currencies backed by central bank money. At this intersection, governance models are receiving increased attention grappling with questions that will define the role of stablecoins in the global economic system.
In this wide ranging dialog, the guests deconstruct conceptions of the early technology movements, diverse systems of governance, and an emerging convergence of interests between public and private sectors around the global stablecoin phenomenon. According to the guests, the stakes are incredibly high. Getting governance right, even more so than the technology breakthroughs the sector represents, holds the key to making the global economic system more open, inclusive and empowering for all.
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