The Bank of England Explores CBDC and Blockchain Technology Experiments
Publication Time:2024-07-30 19:12:05
Recently, the Bank of England announced its plans for a series of experiments on distributed ledger technology (DLT) and wholesale central bank digital currencies (wCBDCs). The aim is to stay abreast of changes in the payment sector and to explore the implications and challenges of fintech developments. Working in conjunction with the Treasury, the Payments Systems Regulator, and the Financial Conduct Authority, the bank is committed to ensuring that monetary unity is maintained in scenarios involving stablecoins. This means that, regardless of whether one uses cash, bank deposits, or other forms of currency, they will be interchangeable. In this discussion, the Bank of England meticulously outlined a range of experiments designed to ensure that the unity of money remains intact between stablecoins and tokenized deposits (assets represented on a programmable platform as claims on deposits).
Blockchain Technology
CBDC
FinTech
Bank of England
Experiments