Bank of England creates digital currency task force
In conjunction with HM Treasury, the Bank of England has created a special task force focused on the exploration of a Central Bank Digital Currency (CBD…
Government announces plans for a potential digital pound
The Bank of England has taken its first steps towards creating a new form of currency after beginning a consultation on the introduction of its own digital pound.
The consultation, which has been launched in conjunction with the Treasury, sets out proposals on how the digital currency would operate and invites businesses and members of the public to review its design and implementation.
A digital pound would be issued by the Bank of England and could be used by households and businesses for everyday payments in-store and online, according to the Bank. If introduced, the currency would be interchangeable with cash and bank deposits, complementing existing cash payments. It wouldn’t be intended for savings and would not pay interest.
Continue reading: https://www.standard.co.uk/business/bank-of-england-takes-first-steps-towards-digital-currency-with-consultation-digital-pound-treasury-b1058362.html
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Central Bank Digital Currencies | Why central banks want to launch digital currencies? | CBDC’s
Central Bank Digital Currencies | Why do central banks want to launch digital currencies? | CBDC’s
Interest in bitcoin and other cryptocurrencies may be surging, but central banks don’t want to be left behind by financial innovation. In fact, more than 80% are examining how to launch digital versions of their own currencies. The present concept of CBDCs was inspired by Bitcoin and similar blockchain-based cryptocurrencies but differs from such a virtual currency and cryptocurrency in that a CBDC is or would be issued by a state and have an official legal tender status.
What are your thoughts on Central Bank Digital Currencies? Do you think they will benefit countries or not? Let us know in the comments below!
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Central bank digital currencies can ‘be programmed’ and ‘used against you!’ | Layah Heilpern
‘The money can just be programmed to be used against you… It’s a really efficient way for governments to implement their political and woke agendas.’
Layah Heilpern joins Nigel Farage to discuss how a central bank digital currency (CBDC) would give the government greater control.
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Future ‘Britcoin’ on the way? Bank of England and UK Treasury launch taskforce
A new project was announced this morning by Rishi Sunak between the Bank of England and the UK Treasury to look into, and possibly develop, a central bank digital currency (CBDC). Is this the future for the UK central bank?
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#Crypto #BankofEngland #CBDC