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Former Bank of England Governor Lord King destroys the case for CBDCs - see his analysis in the thread below.
So why is the Bank of England still pressing ahead?
#CBDCs #CBDC #Britcoin
So why is the Bank of England still pressing ahead?
#CBDCs #CBDC #Britcoin
"CBDCs are about ways of making payments; they are not a new currency."
"Whether a country needs a CBDC is really about the state of its current payments system," he pointed out in the House of Lords this month..
"Whether a country needs a CBDC is really about the state of its current payments system," he pointed out in the House of Lords this month..
"What are the problems in our payments system to which a CBDC might be the answer? .... There are no problems to which a CBDC is the only, or even the most obvious, answer."
"Our payments system is more efficient than those in most other countries, certainly the United States."
"Our payments system is more efficient than those in most other countries, certainly the United States."
More #Britcoin
Bank of England Governor Bailey launches discussion paper on difficult questions re “stablecoins” and CB digital money” - “prospect of stablecoins as a means of payment & emerging propositions of CBDC have generated a host of issues..” bankofengland.co.uk/paper/2021/new…
Bank of England Governor Bailey launches discussion paper on difficult questions re “stablecoins” and CB digital money” - “prospect of stablecoins as a means of payment & emerging propositions of CBDC have generated a host of issues..” bankofengland.co.uk/paper/2021/new…
BoE: “opportunities can only be realised if new forms of digital money are safe. They could be privately provided – in form of ‘stablecoins’. Or they could be publicly provided – in the form of a central bank digital currency”..“precautionary arrangements may therefore be needed”
“new forms of digital money are assumed to be denominated in sterling. Unlike cryptoassets such as Bitcoin, which do not have an anchor, they are also assumed to be backed by assets that make them stable in value...”
