The digital pound: Technology Working Paper

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Source: Bank of England

This paper accompanies a Consultation Paper on the digital pound and outlines the Bank of England’s emerging thinking on CBDC technology.

Overview

This paper accompanies a Consultation Paper on the digital pound and outlines the Bank of England’s emerging thinking on CBDC technology. It explores technology design considerations which help to form a basis for the Bank’s current thinking on the technology requirements of a UK CBDC, and which will likely have significant impact on the design choices for CBDC. This paper also sets out an illustrative conceptual model, which is based on the platform model of CBDC. It outlines how different components of the conceptual model might operate and how ecosystem participants might interact with these components. 

Responses

The Bank is seeking feedback on the questions set out in this paper. This feedback will help to inform our future technology work. We invite responses to this paper from stakeholders and technology experts until 7 June 2023.

Submit your feedback

If you have any questions, please email CBDC@bankofengland.co.uk.

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