Bank of England considers digital currency

News Bank of England considers digital currency


Ian

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Ian submitted a new resource:

Bank of England considers digital currency - Is Britcoin on the cards?

The UK Treasury and Bank of England are setting up a "Central Bank Digital Currency" taskforce to investigate creating a digital pound. The rise of cryptocurrency has seen governments around the world take a serious look at how a completely digital financial system may look.

The so-called "BritCoin" would mean that individuals and businesses would be able to hold currency directly with the Bank of England, rather than going through high street bank accounts. The UK is not the first country...

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nivrip

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Currencies that use block chain technology are very bad for the environment, using enormous amounts of energy to cool the masses of computers required to keep it all going. Already, China's cryptocurrencies are using more energy than some smaller nations use for everyday living. The Greens will certainly oppose it.

The huge volatility in cryptocurrencys' "value" is enough to put me off investing in them. The day I buy in they will all collapse !! :D
 

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