A Bank of England (BoE) digital pound will be a “complete restructure” of the current financial system and can give the government more control on how people use their money, a financial analyst warns.
Some 130 countries are exploring a central bank digital currency (CBDC), according to the Atlantic Council. The Bank of England (BoE) and the Treasury are currently considering feedback on how to lay the groundwork for a digital pound, nicknamed “Britcoin” by Rishi Sunak when he was chancellor.
A decision is yet to be made on whether or not to launch a digital pound. But if the plan goes ahead, it could be issued in just a few years’ time to complement physical cash….