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Home / Business / Former Bank of England and Bank of China President Mark Carney joins Stripe’s board of directors

Former Bank of England and Bank of China President Mark Carney joins Stripe’s board of directors



After paving the way for the Bank of England (BoE) digital currency innovation, Mark Carney officially joined Stripe’s board of directors, the company is committed to building new business solutions for the Internet.

Stripe introduced Carney as a board member on Sunday. He joined Christa Davies, Diane Greene, Jonathan Chadwick, Sir Michael Moritz and Stripe co-founders Patrick and John Collison. The American digital payments company said it would benefit from Carney’s “extensive experience in global financial systems and governance,” especially in the introduction of new climate change measures.

Carney said: “In the past ten years, the nature of business has changed. Striping has been at the forefront of promoting the development of this new digital economy. It provides large and small businesses with innovative and flexible global payment solutions. .”

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He continued:

“I hope to support Stripe in the next few years because they have established a global infrastructure to make the Internet a powerful and inclusive engine for economic growth.”

Founded in 2011, Stripe promotes itself as a complete payment processing platform for e-commerce and other forms of online business. The company first ventured into Bitcoin (BTC) in 2014, and then launched BTC payments the following year. However, due to high fees and slow confirmation time, Stripe will eventually abandon the BTC function in 2018. In October 2019, Stripe also abandoned the Libra project supported by Facebook and has since changed its name to Diem.

Although Stripe abandoned Bitcoin payments, co-founder John Collison has expressed a positive attitude towards the future of cryptocurrencies, especially in emerging markets where payment systems are still developing.

Carney also expressed an optimistic view on digital assets, especially those backed by the central bank. At the Jackson Hole Symposium in 2019, Carney envisioned a future where the central bank digital currency or CBDC could replace the U.S. dollar as the global reserve currency.

He said at the time: “Whether the public sector will best provide this new synthetic hegemonic currency through the central bank’s digital currency network is an open question.”

Carney has left his post as Governor of the Bank of England for nearly a year. During his seven-year tenure, the Central Bank resolved the economic consequences of Brexit and the beginning of the coronavirus pandemic.