Bank of England ( BOE) official claims that technologies such as digital currencies can offer new opportunities.
The frenzy created by cryptocurrencies also managed to affect traditional financial products. Many corporate companies have started to carry out various studies in order not to fall behind with new technology. In addition, mobility continues in many countries on blockchain and digital assets. Making a statement on the subject Bank of Englandsenior executive, digital currencies describes it as an opportunity.
BOE Official Positive About Digital Pound
Bank of England ( BOE) vice president for monetary policy I Broadbent, the Bank of England’s He expressed his warm approach to CBDCs..
Broadbent stated that new technologies such as digital currencies are a lucrative opportunity for businesses. The BOE official spoke at the start of a research conference. In this speech Broadbentreferred to the following;
“The experience of digitalization to date is that new products and services enabled by new technologies can be adopted very quickly at scale. It is clear that this brings opportunities for financial institutions, businesses and individuals. We expect to see continuous improvements, reductions in friction and reductions in payment costs.”
Bloomberg’sAccording to his report, BOEAnd UK Treasury officials have focused on a structure similar to cryptocurrencies like Bitcoin. These officials will have a fund to be backed by central bank reserves. coinis working on it.
