The future role of digital public money

The future role of digital public money

Author: Jannah Patchay, Policy Lead, Digital Pound Foundation The Digital Pound Foundation is committed to supporting the development of a well-designed digital Pound. This might be in public (central bank-issued) or private (privately issued stablecoins) form, and most likely a combination of the two – and an effective and diverse ecosystem for these new forms […]

Why is the UK retail payments landscape so unprepared for a digital Pound?

Why is the UK retail payments landscape so unprepared for a digital Pound?

Co-authored by Martin Hargeaves, Phil Kenworthy, and Jannah Patchay Pay.UK is the leading operator of retail payments infrastructure in the UK. It operates most of the UK’s national retail payment systems: BACS, Faster Payments, and the Image Clearing System (which provides a digital mechanism for processing cheques). Pay.UK undertakes these activities under the supervision of […]

New wine in old wineskins: Are central bank digital currencies just another development in the payments landscape or are they a paradigm shift?

Are central bank digital currencies just another development in the payments landscape or are they a paradigm shift?

Author: Jim Ford, Originating Member, Digital Pound Foundation Before the advent of bottles, wine was held in wineskins, usually made of goat or sheep hair. Newly-produced wine was always poured into new wineskins because old or used wineskins would expand and explode under the pressure of the new wine. Similarly, with central bank digital currencies, […]

Introducing new forms of digital money

Introducing new forms of digital money

Author: Jannah Patchay, Originating Member, Digital Pound Foundation The genie is out of the bottle. The introduction of new forms of digital money – whether public or private in form – is irreversible. And, given that money touches everyone and everything, its implications are enormous. A global race has developed between private and public protagonists […]

Does the UK need a CBDC? What benefits would a digital Pound offer?

Does the UK need a CBDC? What benefits would a digital Pound offer?

The global economy, including cross-border trade, is moving increasingly to the digital realm, an effect heightened by the recent Covid-19 pandemic and associated “social distancing” and “work from home” requirements. The successful implementation and adoption of a digital Pound would recognise these trends and would deliver many potential benefits to the UK economy, its businesses, […]