UK’s CB Explores Digital Currency With Google, and Others

by in Blockchain News


The central bank of Britain is carrying out research on CBDC (Central Bank Digital Currency). The institution aims to include various banking and fintech experts to participate in the process.

Related: Chile’s central bank will explore the possibility of issuing CBDC

For this purpose, the Bank of England and HM Treasury informed about the membership of its CBDC Engagement and Technology Forums on September 29. A number of tech and finance influencers such as Google, World Economic Forum, Consensys, Spotify, Visa, Amazon Web Services, PayPal, and many other well-known names are among the participants.

According to the news release published by the establishment, the Forum aims to engage stakeholders and get analysis on all tech sectors of national digital currency combining expertise and views of members.

The event is meant to help the Bank to be aware of techn challenges that it may face during the design, implementation, and operation of CBDC.

As stated by the bank, the Tech forum met for the first time in late September. As for the Engagement forum, the first meeting is planned for later this year.

Additional information will be published. The UK started to research a CBDC in November 2020. In April, the country's central bank announced creating a task force to organize the process.