By the end of 2022, the UK central bank will release a report outlining the key benefits of using the digital pound.
According to Katie Fortune, senior manager of the Bank of England's CBDC unit, the launch of the so-called "Britcoin" is not yet being considered.Although the Central Bank does not plan to issue a digital pound in the next three years, it is actively studyingits potential.
Katie Fortune says the agency still hasn't decided on the technology on which it canbe built system as the blockchain does notis treated as the default choice.discusses the prospects for the use of the digital pound with representatives of banks, financial companies and academics.
Interestingly, even if CBDC is launched, the BankEngland does not see a particular need for the development of a public wallet for retail storage of Britcoin. The Central Bank believes that interested private companies will cope with this task.
On the impact of a potential digital poundon commercial banks, the regulator says that it is responsible for maintaining financial stability in the country, and not for maintaining existing business models. Although the department is not indifferent to their fate, but if the changes do not harm the economy, they will not be hindered.
At the same time, the Bank of England does not hide its negative attitude towards the current generation of cryptocurrencies.Last year, the head of the Central Bank said that in the long term they are doomed to failure due to a lack of stability and reliability.
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