The introduction of a central bank digital currency (CBDC) could significantly boost gross domestic product, new research from the Bank of England suggests.
Once the preserve of anarcho-libertarians, digital currencies and their underlying distributed ledger technology (DLT) are making their way onto the agenda at the heart of the British establishment as the House of Lords prepares to hear from a top Bank of England official about the prospects for a 'Britcoin'.
Bank of England governor Mark Carney cancelled his annual set piece speech to the industry at London's Mansion House last night following the death of Labour MP Jo Cox, who was killed by an assailant at her constituency office in West Yorkshire earlier in the day.
The Bank of England is bidding to give old fashioned cash a sheen of 21st century technological glamour for the unveiling of the new plastic fiver, building a slick new website, YouTube promo video and even a virtual reality app.
Today, Bank of England Governor, Mark Carney, announced that J.M.W. Turner will appear on the next £20 banknote due to be issued by 2020.
Senior finance heads have devised a set of recommendations aimed at encouraging fintech innovations from within and outside the industry while preserving economic and systemic stability.
Award winning digital agency Cyber-Duck today announced that it has been selected by the Bank of England to design and develop the website for the new £5 polymer banknote, featuring Sir Winston Churchill, that will come into circulation in September.
The Netherlands' central bank, De Nederlandsche bank (DNB) could be planning to develop its own digital currency based on blockchain technology.
The Minister for the Cabinet Office and Paymaster General, Matt Hancock, has confirmed today that the UK’s new national cyber centre, announced by the Chancellor in November, will be called the National Cyber Security Centre (NCSC).
A senior Bank of England official has floated the idea of using distributed ledger technology to enable individuals to hold digital currency accounts with the central bank, but has warned that such a move could prove damaging to commercial providers.
© Finextra Research 2016