- Digital pound would enhance user choice by complementing, not replacing cash transactions
- There would be further public consultation on a digital pound prior to introduction of any primary legislation by the government
- Upon completion of design phase around the middle of the decade, BOE and the government will decide on whether to proceed to create a digital pound
- Digital pound would only be introduced once both houses of parliament had passes the relevant legislation
- The legislation introduced would guarantee users’ privacy
- Digital pound would be a claim on the BOE, unlike unbacked cryptocurrency assets
I wouldn’t expect them to rush or push too hard on this matter. As things stand, no major central bank is committing too keenly on this project. China was among the first big names to try and pioneer it but the take up has been rather underwhelming to say the least.
This article was written by Justin Low at www.forexlive.com. Source