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Great Britain: The central bank and the Treasury Department study digital money

London (dpa-AFX) – The British central bank is following the example of other central banks and exploring the possibilities of a digital national currency. As the two companies announced in London on Monday, this is to be done in conjunction with the British Treasury in a working group. Accordingly, the benefits and risks of digital currency should be discussed before making further decisions.

If it is introduced, the digital pound will not change money and bank balances, the press release said. A widespread critique of digital currencies is that they may convert money and remove its anonymity in the payment process.

Through this move, the British central bank is doing the same as other central banks, which are also exploring the potential of digital money. This includes the European Central Bank (ECP). The work of the Swedish Central Bank, which has been researching e-krona for a long time, is particularly well advanced in Europe. China’s work on the digital yuan has also progressed. The impetus for initiatives is considered to be the steep rise of private digital currencies such as Bitcoin./bgf/jsl/fba

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