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Digital pound – British Govt ?

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DIGITAL POUND
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The UK government is considering introducing its own digital currency. Finance Minister Sunak announced a corresponding task force – and brought the term Bitcoin into play. China has already reached the pilot phase with the planned introduction – and Estonia and the EU are also considering their start . We are talking about our own central bank-supported digital currency (CBDC). Great Britain is now also considering introducing its own digital currency. The British Treasury Secretary Rishi Sunak announced on Monday that a task force would be set up by the Treasury and the Bank of England. According to the Bank of England, such a planned Britcoin – or the e-pound – could be used by both households and companies. The digital currency should complement cash, but not replace it. According to experts, consumers and companies who wanted to use the digital currency would have to have an account directly with the central bank.

What are advantages of digital pound? “They could even give me a bit more information. But I’m not looking for that right now.” The UK’s new Digital Pound has no direct competitors in Australia, New Zealand and Japan with the potential to help boost domestic jobs by providing better consumer control options on pricing online from merchants such as Amazon, Coles or Woolworths. Risk of digital pound? – Digital currency could be a big benefit for businesses and consumers alike, says one bitcoin entrepreneur. Bitcoin has so far proven to offer lower costs than fiat currencies such as the euro.

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