BoE study suggests digital pound would be less private than cash
Report, conducted with MIT, says cryptographic techniques would not guarantee privacy
Digital PoundLONDON, July 4 (Reuters) – Britain should be cautious about whether to issue a digital version of the pound given privacy and other issues involved, financial services minister Andrew Griffith said on Tuesday. The finance ministry and Bank of England have launched a public consultation on whether to issue a so-called central bank digital currency […]
The post UK financial services minister urges caution over central bank digital currency appeared first on Currency Insider.
Report, conducted with MIT, says cryptographic techniques would not guarantee privacy
Digital PoundWith the growing interest in CBDCs, the Bank of England released a paper in collaboration with the MIT Digital Currency Initiative that explores solutions to build trust in a potential digital pound.
CBDC Digital PoundAn extensive new survey from The Payments Association, a trade group representing the payments industry, has shown that consumer preference for using cash is already low and likely to decline further.
Digital PoundRecognising the importance of debate on new forms of digital money, DPF will become an initiative within Innovate Finance.
Digital PoundInnovate Finance, the industry body for and voice of #UK #FinTech, and the Digital Pound Foundation (DPF) have agreed to join forces, recognising the increasing impact of public debates on new forms of digital money.
Digital PoundAt the Group of Thirty's 39th Annual International Banking Seminar, BoE Governor Andrew Bailey emphasized the need to modernize payment systems, particularly cross-border and wholesale payments.
CBDC