15 May 2021
UK launches digital currency studies

UK launches digital currency studies


British Minister of Finance Rishi Altar, Bank of England (BoE) and Treasuryannounced that it was commissioned to develop a digital currency. The purpose of the study was to create a new type of digital currency. risks and opportunities announced that it was to look.

Deputy Governor of Financial Stability at BoE in the team that will create the UK’s own digital currency Jon Cunliffe and Treasury’s General Manager of Financial Services Katharine Braddick He will serve as co-chairman.

Britain takes the first step for Britcoin

Finance Minister Sunak announced that the country will be at the forefront of this economic innovation. Treasure, technical professionals and financial institutions, retailers, businesses, non-governmental groups and consumers announced that it will establish a forum by bringing together key stakeholders, including Topics to be discussed include the Bank of England’s new currency how to put it into the economy, how citizens and businesses will use it and there will be implications for financial stability.

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England started working on digital money.

The altar continued his explanations as follows:

“Our vision is to become a more technologically advanced financial services sector. The UK is already known for being at the forefront of innovation. However, we have to go further. Technology’s extraordinary potential If we can catch, the UK is one of the world’s leading financial center can be positioned as. “

Central Banks develop their own digital currency

Jewelry the decline in use and Bitcoin Central banks’ interest in the applicability of digital currencies has increased, with increased interest in cryptocurrencies such as Bank for International Settlements (BIS) The survey revealed that 86% of Central banks are actively researching the potential of digital money, 60% are testing the technology, and 14% are implementing pilot projects. Major major states China, Russia, Canada and Switzerland He has advanced his studies on crypto money.

Turkey’s Central Bankannounced that they are carrying out R&D studies for digital money and preparing the legal infrastructure. He announced that his work will be completed by the end of this year.

So what do you think about the transition to digital money? We welcome your ideas for comments.


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