The Digital Pound : The Roll Out!
I don't know what had me distracted that I missed the release of this report in February.
The Digital Pound was presented to Parliament by the Economic Secretary to the Treasury by Command of His Majesty.
This is a Crown copyright 2023 the publication is available at UKGOV.
A UK central bank digital currency - a 'digital pound' - would be anew form of digital money for use by households and businesses for their everyday payments needs.
Remember the U.S. Federal Reserve is activating its long-awaited real-time payments system in July. Marking a transition that some have seen as a government challenge of the crypto sector’s instant-transaction advantages.
FEDNOW SERVICE, meant to solve the existing delays for clearing financial transactions
between institutions, will begin certifying its first participants at the beginning of next month. The system will operate around the clock and provide immediate, full access to funds.
It goes without saying that we are witnessing the end of fiat currency.
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Terrence
"central bank digital currency"
As I said in another post, this is NOT necessarily a good thing. Consumers give up privacy and (potentially) freedom in how money is spent. It will be the literal opposite to crypto.