Can digital currencies end financial exclusion?
In the post-pandemic UK economy, why is it that financial exclusion rates are on the rise? Here at the Digital Pound Foundation, we want to start a conversation exploring how we can actively participate in building a more inclusive financial system, how the introduction of a digital Pound can help achieve this, and how we can support the development of a digital Pound that is “inclusive by design”.
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 […]
Cybersecurity and risk considerations for CBDCs
Authored by Gilbert Verdian, Founder and CEO of Quant, and Digital Pound Foundation Board Director Governments and central banks around the world are exploring the benefits that a central bank digital currency can bring to their economies. Not only must they deliver the policy benefits envisaged – including driving digital innovation, growth and increasing financial […]
President Biden’s Executive Order and the Digital Dollar: The race for pole position is heating up in global CBDC development
Authored by Jannah Patchay, DPF Originating Member On 9th March 2022, US President Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets. The Order instructs a range of federal agencies and regulators to analyse and report back on various aspects of digital assets and the digital asset ecosystem, including, but not limited […]
What is SWIFT? What does ejecting Russia achieve? Can Russia evade sanctions through Bitcoin and other cryptocurrency assets?
Co-authored by Jannah Patchay, Jim Ford, Phil Kenworthy, and Jonathan Marriott Following Russia’s invasion of Ukraine, the US, EU and UK have quickly moved to implement sanctions against Russian financial institutions, companies and individual oligarchs. After much discussion and negotiation, it was also announced that Russian banks would be ejected from the SWIFT network. Opinion […]
Digital Money: Global markets and the coming revolution in cross-border settlement
On 24 February, the Digital Pound Foundation hosted a webinar entitled ‘Global markets and the coming revolution in cross-border settlement’. The session discussed how new forms of digital money, including central bank digital currency, are opening up possibilities for wholesale cross-border transaction settlement. These new forms of money have the potential to revolutionise the FX […]
Digital Pound Foundation announces partnership with CryptoUK, fostering stronger ecosystem for new forms of digital money in the UK
The Digital Pound Foundation (DPF) today announces a new strategic partnership with CryptoUK as part of its plans to foster a stronger ecosystem for new forms of digital money in the UK. Incorporated in June 2021 and formally launched in October 2021, the DPF is an independent, non-profit organisation which works with a variety of […]
CBDCs are more than a solution to a problem: Response to the House of Lords CBDC report
Co-authored by Jannah Patchay, Jim Ford and Phil Kenworthy, on behalf of the Digital Pound Foundation’s Policy, Legal and Regulatory Working Group The House of Lords Economic Affairs Committee (EAC) published a report, in January 2022, entitled “Central bank digital currencies: a solution in search of a problem?”. The report’s publication followed the EAC’s Call […]
Looking back at 2021 for clues as to what to come
Authors: John Velissarios (Accenture) and Jannah Patchay (Digital Pound Foundation) Digital finance saw incredible growth last year. At Accenture, we saw our digital exchange clients get their licenses to operate. We have been driving projects with leading central and commercial banks to re-architect the geography of wholesale central bank digital currency settlement and have been […]
New wine in old wineskins: 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, […]
