cryptonews: The Bank of England has been accused of taking an 'ambivalent and half-hearted' approach to the creation of a central bank digital currency. 🇬🇧
The Bank of England has been accused of taking an "ambivalent and half-hearted" approach to the creation of a central bank digital currency.
Nonetheless, he pushed back on the idea that the Bank of England was being ambivalent in its examination of a CBDC — and argued that the phrase "likely to be needed" was quite forward leaning, and showed that a so-called "Britcoin" was now seen as more likely. He went on to warn that "likely doesn't mean certain" — and there are still circumstances that could see the Bank of England and the Treasury rule out a digital pound altogether.Sir Jon admitted that the Bank of England currently lacks the technical wherewithal to launch a central bank digital currency — but it's hoped that this will be fixed soon.
Sir Jon replied by saying that he wasn't convinced that the U.K. currently has one of the advanced payments systems in the world — and insisted that a CBDC could have huge benefits for the economy and society.
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