The UK's central bank, the Bank of England, has unveiled the model for a digital pound and asked the public to respond during a four-month consultation process.
The UK’s central bank launched its long-awaited digital pound project, pitching the potential to create a new payment system and form of money.
The Bank of England, the UK's central bank, launched its long-awaited digital pound project, pitching the potential to create a new payment system and form of money. The document is meant to solicit public comment and the report's authors stressed several times that any digital currency plans were still at an early stage and might not be needed depending upon how the payments landscape evolved. If there is political and public demand to move forward then a prototype technology would be designed and tested before moving to a pilot project, the document said.
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