The Bank of England (BoE) has published a discussion paper, exploring the pros and cons of a potential issuance of CBDC pegged to the British pound. In the paper, BoE offers more pros than cons and pledges to hear out thoughts on the matter from the general public.
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British government seems to have seriously approached the issues of implementing fintech innovations in its operations. Speaking at London’s Digital Catapult, a government-funded think tank, Cabinet Office minister Matt Hancock stated: “We’re exploring the use of a blockchain to manage the distribution of grants. Monitoring and controlling the use of grants is incredibly complex. A […]
Researchers from the University College of London have developed a digital currency system resembling Bitcoin on the request from the Bank of England, the country’s central bank.
Minouche Shafik, Deputy Governor, Markets & Banking Bank Of England, stated the bank considers using the distributed ledger technology in its new infrastructure.