The Bank of England does not seem willing to offer a (bearer) digital form of the pound that works like a banknote. Instead, he prefers a payment instrument managed through some kind of account.
Bloomberg’s According to the report, the Bank of England oversees its work on digital currencies. Vice President Jon Cunliffeexperts How to better sterling for consumers in online transactions that they can make He said they were working on it.
However, the digital currency ‘bearer’, such as banknotes with no source of information about their owner a means of payment stated that it is unlikely. Central Bank, new digital pounds that it can be used in crime and money laundering has concerns.
Cunliffe, speaking at a panel in London on Wednesday:
I don’t think it is likely to issue a CBDC (Central Bank Digital Currency) as a bearer payment instrument. It will likely be a tool to be used through a private account.
said.
Jon Cunliffe currency and currency trading system The Central Bank will establish but interface’s private sector payment providers stated that it will be done by
The Bank of England offers a suitable option for individual investors at the end of the year. Issuing a consultation paper on how CBDC can be is planning. Cunliffe stated that they were determined on this issue, but that the future that it is not possible for any digital pound to be traded within three years. for this technology to be integrated five or more years Said they needed it.
Assistant Cunliffe:
We can give the money to banks for them to integrate into their mobile apps and reflect on their customer accounts. We can allow the private sector to tokenize the pound at a 1:1 ratio. We have many models and we will decide which one to use as a result of our research.
He expressed his views on the subject.