Bank of England Does the Groundwork for Central Bank Backed Digital Currency
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....
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