Pitch Your Blockchain Technology Idea To Bank of England
Over the past few months, it has become clear how a lot of major financial institutions around the world are looking at how they can implement blockchain technology. Bank of England, United Kingdom’s central bank, has launched a dedicated blockchain career page. But there is a twist, as the BoE is looking for bright ideas, which can eventually lead to a....
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The Bank of England (BOE) has launched a search for blockchain-savvy interns, offering the winning students the possibility of a six-week paid internship and the chance of landing a role within the organisation. According to its website, applicants are encouraged to pitch an idea for a blockchain-based product that would contribute a positive change to UK society by 7th December. The website reads: "The point is that while the [blockchain] technology might include some risks, there are all sorts of far-sighted, game-chancing, life-enhancing ideas to pursue. We want to hear about yours."....
The Bank of England has proposed the introduction of a central bank backed digital currency alongside fiat banknotes. The idea of creating a central bank backed digital currency is not a new thing. The digital currency community and central banks of various nations have floated this idea at one point or another. While most nations are yet to act upon it, the Bank of England is already doing the groundwork for such an implementation. A ‘Staff Working Paper‘ published this month as part of the research commissioned by the Bank of England reports that introduction of a Bank of England backed....
The Bank of England has been one of the more aggressive central banks to investigate blockchain and distributed ledger technology, but at least one of its officials doesn’t believe widespread adoption will happen anytime soon. Andrew Hauser, the central bank’s executive director for banking, payments and financial resilience, made the remarks during a speech on the history of how the Bank of England developed its settlement systems over the past 20 years. His speech took place at the CREST Twentieth Anniversary Conference on 20th September, an event commemorating the launch of the UK-based....
Over the past few months, the central bank of England has discussed the significance of a blockchain-based cryptocurrency, and the possibility of issuing its own digital currency as part of an initiative to discourage the use of fiat money in the country. In a "Livery Room" session from the Open Forum 2015 hosted by the Bank of England on Wednesday, former JPMorgan executive Blythe Masters outlined the advantages of a "newly invented currency system" such as bitcoin, and the efficiency of the blockchain technology in the settlement of assets and transfer of value. "The role of central....
The UK's newly opened FinTech accelerator is seeking additional ways to explore blockchain tech. Speaking during an event in London this week, the chief cashier of the Bank of England, Victoria Cleland, discussed the central bank's efforts involving financial technology, including the founding of a startup accelerator focused on financial applications. It's here that the Bank of England is seeking to study concepts such as distributed ledger-based digital currency, but the organization is already looking to move beyond its currently disclosed projects. Cleland said: "[Distributed....