
Bank of England boss not convinced of need for digital pound
The Bank and the Government are in the process of exploring the launch of a digital pound.
Digital PoundRolling coverage of the latest economic and financial newsLatest: Consultation on UK digital currency next yearCBDC could come in second half of decadeNIESR says household incomes face painful squeezeSqueeze on household incomes to lead to a doubling of destitutionProblems will be exacerbated by BrexitEarlier:UK grocery inflation hits 14-month high, as Christmas spending starts earlyBond boosts cinema spending as consumer demand drives retail recoveryPrimark announces expansion plans and sees supply chain issuesFederal Reserve worried that prices of risky assets keep risingAssociated British Foods also points out that Brexit has exacerbated the shortage of lorry drivers in the UK, which is one cause of supply chain problems.In todays annual results, it says:Our businesses are reliant on the availability of skilled HGV drivers.Whilst there is currently a shortage of drivers in other parts of Europe, the USA and Australia, the situation has been exacerbated in the UK as a result of the EU exit. We continue to work closely with our major carriers and logistics partners to minimise supply chain disruption. Continue reading...
Britcoin CBDCThe Bank and the Government are in the process of exploring the launch of a digital pound.
Digital PoundInnovate Finance, the industry body for UK FinTech, through its Digital Pound Foundation programme, has today published a blueprint to make the UK the leading international market for stablecoin a key pillar of the future digital economy.
Digital PoundOffline payment functionality is technically feasible for a future digital pound but there are trade-offs that make it challenging, according to new Bank of England research.
Digital PoundThe Digital Pound Foundation has become part of the umbrella of Innovate Finance, the industry body for UK fintech.
Digital PoundRecord hopes the BOE will abandon the project, which has already cost $30.5 million, and focus on its core responsibilities.
Digital PoundInnovate Finance, the industry body for UK FinTech, and the Digital Pound Foundation (DPF) have officially joined forces today.
Digital Pound