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 PoundPolicymakers are divided on whether a digital euro is necessary for the eurozone in a world where cashless payments already exist but supporters of the central bank digital currency (CBDC) project argue that Europe needs a payments system that is locally controlled, the Financial Times reported. Supporters also argue that the declining use of cash […]
The post ECB believes digital euro is necessary despite lukewarm response from banks, consumers appeared first on CryptoSlate.
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.
CBDCCBDC