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 […]
House of Lords Economic Affairs Committee Call for Evidence: Central Bank Digital Currencies
This is a copy of the Digital Pound Foundation’s submission to the House of Lords Economic Affairs Committee in response to their Call for Evidence on Central Bank Digital Currencies. The evidence was originally submitted on 22nd October 2021, and published on the House of Lords website here (CDC0033). Summary of Response The genie is […]
The Retail versus Wholesale Debate: Should retail and wholesale clearing and settlement of CBDC payments be separated?
How does the market look today? When looking at the payments aspect of central bank digital currencies (CBDCs), distinctions are frequently made between wholesale and retail systems and infrastructure. While this approach may reflect the traditional and legacy infrastructures that are currently in place, the opportunity for change brought about by the digital revolution raises […]
The Future of Money – does the UK need a digital Pound? A fireside chat with the Bank of England
The emergence of digital currencies has been driven by a combination of factors: frontier technologies and their use in payments innovation, increasingly global networks and communities, and a growing recognition that transition to a digital economy will require new forms of digital money. Although initially driven by the private sector, central banks and governments have […]
Central bank digital currencies – walking the ESG tightrope
This week, one of the Digital Pound Foundation’s key partners, Herbert Smith Freehills, released ESG: creating a purposeful future, the fifth edition of its Global Bank Review. The publication explores some of the key legal and commercial challenges facing the banks sector in relation to ESG, but also the opportunities that ESG presents to financial […]
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, […]
Digital Pound Foundation launches to support development of the UK’s CBDC and digital money ecosystem
A broad coalition of academic and industry experts respond to the questions posed by the Bank of England on the topic of new forms of digital money.
Harnessing creativity, ingenuity and uniquely British values to bring about a well conceived digital Pound
The new technologies of the digital revolution have triggered the development a new form of money. It is now technologically possible to deploy what is now known as a digital currency for universal use across the globe. It is also possible to do that in parallel with conventional fiat currency, ultimately replacing less efficient or secure current forms of money. Bitcoin and Libra have paved the way, and many private and publicly owned enterprises are looking to implement their own versions. It appears that it is here to stay.
Response to Bank of England ‘New Forms of Digital Money’ discussion paper
A broad coalition of academic and industry experts respond to the questions posed by the Bank of England on the topic of new forms of digital money.
