The Daily PerspectiveDigital Pound Stalled While Europe Races Ahead
Michael J BurgessNew Autonomous Airwaves episode out 🎙️
Britcoin Uncapped? The Digital Pound's Promise vs. Your Privacy & Freedom
Is a UK digital pound about innovation, or quiet control dressed up as convenience? This episode explores the trade offs, risks, and why privacy still matters.
Listen here: https://pod.link/1803236881
#AutonomousAirwaves #Britcoin #CBDC #DigitalPound #Privacy #Freedom #Decentralisation
Andrew Millar@afewbugs @beecycling @PositiveMoneyUK
But public, electronic money is also quite possible!
Here's PoMo again, in 2024:
"A digital pound, also known as a UK central bank digital currency (#CBDC), is expected to be introduced by the Bank of England and Treasury in the second half of this decade. Through the ‘seigniorage’ benefits of lower borrowing costs, it can be estimated that, by 2029, a digital pound would increase government fiscal space by between around £15bn a year in lower adoption scenarios and upwards of £30bn a year in higher adoption scenarios. This would be enough to cover most, if not all, of the £28bn a year green prosperity plan previously proposed by the Labour Party."
➡️ https://positivemoney.org/uk/publications/fiscal-benefits-digital-pound/
Sounds too wild ? No, it's entirely possible, here's @BankOfEngland (not that handle, they aren't here yet):
"A digital pound would be like a digital form of cash – a banknote for the digital era. Like banknotes, it would be issued directly by the Bank of England."
"In October 2025, we published an update on the design phase of the digital pound project. We are currently developing a detailed blueprint..."
➡️ https://www.bankofengland.co.uk/the-digital-pound
Strypey"This research showed that emerging types of PETs [Privacy-Enhancing Technologies], like pseudonymization, zero-knowledge proofs, and secure multiparty computing, might feasibly be applied to digital currency systems such as the digital pound to minimize the sharing of data both with the central bank and between payment intermediaries, giving users greater control over their data and enhancing user privacy."
https://dci.mit.edu/enhancing-the-privacy-of-a-digital-pound
Wendy M. GrossmanThis week's net.wars, "Cryptocurrency winter" finds the central banks' efforts to create retail central bank digital currencies failing to find mass adoption everywhere they're tried: https://netwars.pelicancrossing.net/2023/05/19/cryptocurrency-winter/ #NetWars #cryptocurrencies #CBDCs #DigitalPound
Cryptocurrency winter - net.wars
There is nowhere in the world, Brett Scott says in his recent book, Cloudmoney, that supermarkets price oatmeal in bitcoin. Even in El Salvador, where bitcoin became legal tender in 2021, what appear to be bitcoin prices are just the underlying dollar price refracted through bitcoin’s volatile exchange rate. Fifteen years ago, when bitcoin was … Continue reading "Cryptocurrency winter"
Martin Hamilton@pikesley Hopefully the #DigitalPound will be joining it in the dustbin of history very shortly!
jrosenberg"An overview of what central bank digital currencies are, what they might offer, and progress on developing a digital pound." https://researchbriefings.files.parliament.uk/documents/CBP-9191/CBP-9191.pdf
#digitalPound #CBDC #UKParliament #BankofEngland #centralbanks
Published today: the Regulatory Initiatives Grid from the UK Financial Services Regulatory Initiatives Forum that "sets out the regulatory pipeline, in order to give firms a clear view of upcoming regulatory initiatives."
Includes #cryptoassets, #stablecoins, #CBDC, #payments, and #banking
https://fca.org.uk/publication/corporate/regulatory-initiatives-grid-feb-2023.pdf
#digitalPound #CBDC #regulation #supervision #prudentialregulation
#BankofEngland #UnitedKingdom #England #FinancialConductAuthority #FCA #centralbanks
UKBBank of England, What is a CBDC? (Explainer), Updated February 7, 2023
— Available here: https://www.bankofengland.co.uk/explainers/what-is-a-central-bank-digital-currency
#digitalPound #CBDC #digitalcurrency #cryptoassets #cryptocurrency #banking #financialservices #paymentsystems #BankofEngland #centralbanks #HMTreasury #England #UnitedKingdom
