HomeCBDCDigital Pound UpdatesFeedback on the Bank of England's Discussion Paper on innovative digital currency...

Feedback on the Bank of England’s Discussion Paper on innovative digital currency types

The Bank of England’s primary objective is to maintain monetary and financial stability in the United Kingdom. One way they achieve this is by ensuring that people have confidence in the money they use for transactions and as a store of value. This is done through the issuance of banknotes and central bank reserves. However, the use of banknotes for transactions is decreasing, and there is an increasing reliance on privately issued forms of money. In response to these changes, the Bank of England has sought feedback on its thoughts regarding new forms of digital money. These new forms, whether publicly or privately provided, have the potential to improve the speed, cost, and efficiency of payments, as well as enhance financial inclusion. However, they also pose risks.

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