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BoE Reassures Britons Digital Pound Will Be Privacy-Centric CBDC
The Bank of England (BoE) is working on re-establishing the pound as the preferred global reserve currency through a Central Bank Digital Currency (CBDC). The rise of the digital economy post-Covid-19 global pandemic through the cryptocurrency market has most governments thinking about moving to decentralized ledger technologies (DLTs). Moreover, the use of the digital economy is not only sustainable but also scalable to international markets. Consequently, the forex market will significantly benefit from fast verifiable digital currencies and so will the cryptocurrency market.
BoE on Digital Pound Key Selling Features
Over the last few years, the Bank of England has collaborated with different entities in the research of an excellent Central Bank Digital Currency. For instance, in February 2022, the Bank of England and the Massachusetts Institute of Technology (MIT) agreed to collaborate on a twelve-month res
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