Bank of England Releases Discussion Paper on CBDCs
Cointelegraph
Published Mar 13, 2020 02:41AM ET
Updated Mar 13, 2020 04:20AM ET
The Bank of England (BoE) is seriously weighing the pros and cons of issuing a central bank digital currency (CBDC) denominated in pounds sterling. Britain’s central bank recognized that a digital pound could be destabilizing for the current banking system. However, a digital currency could utilize the latest FinTech and make transactions easier and faster for consumers.
The Bank has just released a 57-page report examining how CBDCs could be introduced to existing markets, performing as both a store of value and used in everyday transactions.
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Written By: Cointelegraph
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