In this last week, Bank of England Governor Mark Carney made waves in the crypto industry by espousing, as a pillar of traditional banking, an alternative to the very system he heads. At a speech in the U.S., Carney put forward the idea of a “synthetic hegemony currency” - in other words, a central bank-banked cryptocurrency that could replace the U.S. dollar as the global reserve currency.

Michael Every, experienced economist and Head of Financial Markets Research Asia-Pacific at Rabobank, would beg to differ. As a long-time expert on Asian markets, Every does not anticipate that the crucial, closed-off Chinese economy would adhere to the libertarian principles behind blockchain and cryptocurrency.