New Pope: New Hope?

As white smoke billowed from the chimney shaft on the Sistine Chapel, Catholics around the world held their breath.

This Wednesday they learned the name of their new leader, Argentine Archbishop Jorge Mario Bergoglio, 76, who will from now on be known as Francis I. After just one day, Pope Francis I was chosen by the 115 Cardinals gathered in conclave. He now becomes the 266th Pope in the history of Catholicism.

"The Cardinals went searching for bishop of Rome all the way across the Earth," Pope Francis said. "They've chosen someone who is from far away and here I am."

According to CNN, Pope Francis I is a "straight-shooter and follower of church’s most conservative wing."

Pope Francis I was preceded by Pope Emeritus Benedict XVI who resigned on Feb. 11 citing "he didn't have the strength that it requires." Benedict XVI is the first pope to resign since 1415—that's 598 years—and now this marks the first time in modern history that there are two living Popes.

According to Catholic New Service, the official installation of Pope Francis I could take place on Mar. 19. That's where the pontiff receives his tiara, fisherman's ring and pallium.

Catholics: What is your wish for your faith in this new chapter? Tell us in the comments section below.