Digital Pound Likely This Decade, Treasury Says

[The_DADDY]

A state-backed digital pound is likely to be launched later this decade, according to the Treasury and the Bank of England.

Both institutions want to ensure the public has access to safe money that is easy to use in the digital age.

Chancellor Jeremy Hunt said the central-bank digital currency (CBDC) could be a new "trusted and accessible" way to pay.

But it will not be built until at least 2025.

"We want to investigate what is possible first, whilst always making sure we protect financial stability," Mr Hunt said.

The Treasury and the Bank of England will formally start a consultation for the digital currency, on Tuesday.

Cryptocurrencies are not backed by a central bank and the value can shoot up and down rapidly.... 

 

 

https://www.bbc.co.uk/news/technology-64536593.amp

 

Is this a good thing or would you prefer good old fashioned cash?

 

[Guest makapaka]

7 minutes ago, The_DADDY said:

A state-backed digital pound is likely to be launched later this decade, according to the Treasury and the Bank of England.

Both institutions want to ensure the public has access to safe money that is easy to use in the digital age.

Chancellor Jeremy Hunt said the central-bank digital currency (CBDC) could be a new "trusted and accessible" way to pay.

But it will not be built until at least 2025.

"We want to investigate what is possible first, whilst always making sure we protect financial stability," Mr Hunt said.

The Treasury and the Bank of England will formally start a consultation for the digital currency, on Tuesday.

Cryptocurrencies are not backed by a central bank and the value can shoot up and down rapidly.... 

 

 

https://www.bbc.co.uk/news/technology-64536593.amp

 

Is this a good thing or would you prefer good old fashioned cash?

 

It’s a bad thing.

[hackey lad]

Cash  , everyday.

[Mister M]

Cash for me too. 

I'm terrible with chip & pin. I'm convinced that if I stick notes and coins, I'd spend less.

[hackey lad]

Just now, Mister M said:

Cash for me too. 

I'm terrible with chip & pin. I'm convinced that if I stick notes and coins, I'd spend less.

[XPertByExperien]

Won't happen.

 

Some companies are still only just starting with contactless machines for cards and even they don't always work.

 

 

[Guest]

Cash for me too so, it's a full house for cash up to now.

I can't even stand the plastic notes they have already landed us with.

 

 

Edited March 15, 2023 by Organgrinder

[hackey lad]

2 minutes ago, Organgrinder said:

Cash for me too so, it's a full house for cash up to now.

I can't even stand the plastic notes they have already landed us with.

 

 

Agree about the plastic notes , I think they’re spring loaded

[The_DADDY]

37 minutes ago, XPertByExperien said:

Won't happen.

 

Some companies are still only just starting with contactless machines for cards and even they don't always work.

 

 

It will happen 

[retep]

2 hours ago, The_DADDY said:

A state-backed digital pound is likely to be launched later this decade, according to the Treasury and the Bank of England.

Both institutions want to ensure the public has access to safe money that is easy to use in the digital age.

Chancellor Jeremy Hunt said the central-bank digital currency (CBDC) could be a new "trusted and accessible" way to pay.

But it will not be built until at least 2025.

"We want to investigate what is possible first, whilst always making sure we protect financial stability," Mr Hunt said.

The Treasury and the Bank of England will formally start a consultation for the digital currency, on Tuesday.

Cryptocurrencies are not backed by a central bank and the value can shoot up and down rapidly.... 

 

 

https://www.bbc.co.uk/news/technology-64536593.amp

 

Is this a good thing or would you prefer good old fashioned cash?

 

You will have nothing and be happy, control.