The Bank of England believes that up to 20% of all deposits will go to the CBDC

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The regulator’s representatives discussed the asset's opportunities and risks in a special meeting

The Bank of England believes that up to 20% of all deposits will go to the CBDC

25.11.2021 - 08:40

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What’s new? As part of the Economic Affairs Committee's discussion of the central bank digital currency (CBDC), the Bank of England representatives described this asset type as the next stage in the evolution of money.

News source on the Parliamentlive website

What else was discussed in Parliament? The deputy head of the regulator, John Cunliffe, stated that the most conservative estimates that into CBDC will flow about 20% of all retail and corporate deposits. In doing so, the new asset type will revolutionize the functionality of money.

As previously mentioned, the Bank of England plans to launch a national cryptocurrency. The public discussions on the introduction of the digital pound will take place as early as next year.

Author:

Editorial GetBlock Magazine

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