1/ 🧵 United Kingdom is in concept phase for the Digital Pound. Bank of England has released the concept and technical draft and is in process of building the CBDC.
1/ 🧵 United Kingdom is in concept phase for the Digital Pound. Bank of England has released the concept and technical draft and is in process of building the CBDC.
2/ 🧵 Bank of England is not trying to replace the cash. However rise of digital transaction has made it consider its stance on the Digital Pound and so they decided to go with the flow.
3/ 🧵 Currently they have the concept draft and the technical consultation draft out in the website. And that goes to show there is some discussion and movement towards the digital pound.
4/ 🧵 No fixed timeline and the release date has been mentioned however Bank of England has put on an effort in discussions and papers on this on their website.
5/ 🧵 Check out how Bank of England has plans for the Digital Pound.
https://inleo.io/@esmeesmith/digital-pound-united-kingdom-in-process-for-cbdc