Three considerations for design of the digital pound
The Bank of England is currently in the design phase for a potential UK retail central bank digital currency: the digital pound.
Digital PoundDespite turbulence in the crypto space, interest in blockchain technology and the belief that CBDCs are set to be the foundation of the future global monetary system are at an all-time high. From China to the European Union (EU), governments worldwide are investing increased amounts of resources into launching their own CBDCs in the near […]
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The Bank of England is currently in the design phase for a potential UK retail central bank digital currency: the digital pound.
Digital PoundUK Finance and its member banks have successfully completed the experimental phase of a tokenisation and CBDC platform.
CBDCBarclays, Citi UK, HSBC and Natwest participated in the Regulated Liability Network test.
CBDCBarclays published a paper exploring options for various digital pound functionality. It concludes an FMI should be responsible.
CBDC Central Bank Digital Currency Digital PoundAfter the real-time gross settlement crash in July, the BOE is looking for a solution to update the network, proposing synchronization for the revamp while considering wCBDCs as an alternative to the current system.
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