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Here Comes ‘Britcoin’

The Breakdown

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The Pros and Cons of a CBDC

The consultation is one of the more complete and open attempts to publicly talk through the pros and cons of a retail CBDC we've seen from a government. There are also many privacy and consent concerns written into the consultation. The digital pound would offer no interest allowing banks to easily offer competitive terms on deposit accounts. It's Minister Jeremy Hunt said in a statement, while cash is here to stay, a digital pound issued and backed by the Bank of England could be a new way to pay that's trusted, accessible and easy to use.

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