Bank of England Publishes Consultation Paper on CBDC Concept
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The BoE announced 2 years ago that it was ready to work on a digital version of the pound sterling and expressed its readiness to create a token in partnership with the Ministry of Finance.
The regulator has introduced the concept of CBDC this week. It has been published as a consultation document whose authors are calling on experts to comment on the authorities’ initiative to issue a digital version of the British pound.
The CBDC will become part of the financial system of the kingdom and token users can be sure that transactions will be private and secure, the regulator has noted.
The BoE has noted that the final decision on the issue of the digital pound has not yet been made.
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