Central bank digital currency
From ACT Wiki
Digital currency issued and administered by a central bank.
- Bank of England considering CBDC
- "A Central Bank Digital Currency (CBDC) [in the UK] would allow households and businesses to directly make electronic payments using money issued by the Bank of England.
- We have not yet made a decision on whether to introduce CBDC.
- The Bank [of England] provides physical money in the form of banknotes, which can be used by households and businesses to make payments.
- We also provide electronic money, but this can only be used by banks and selected financial institutions.
- A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses.
- This would allow everyone to make electronic payments in central bank money.
- ... CBDC is sometimes thought of as equivalent to a digital banknote, although in some respects it may have as much in common with a bank deposit.
- Any CBDC would be introduced alongside – rather than replacing – cash and bank deposits."
- Bank of England - April 2020.
- Bank of England
- Central bank
- Digital currency
- Distributed ledger
- Fiat currency
- Gold standard