Bank of England plots its own bitcoin-style digital currency


Was the appeal of cryptocurrency really to give governments even more control over money and personal lives?

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Bank of England Plots Its Own Bitcoin-Style Digital Currency

By Robert Mendick
The Telegraph, London
Saturday, December 30, 2017

The Bank of England could green light its own bitcoin-style digital currency as early as 2018, The Telegraph can disclose.

A research unit set up by the bank is investigating the possible introduction of a crypto-currency linked to sterling.

If approved, a virtual currency issued by the bank would pave the way for a revolutionary shake up of high street banking.

A Bank of England-issued digital currency would potentially allow British citizens to keep their money -- in digital form -- with the central bank itself, dispensing with the need for a retail bank. Big-ticket transactions, such as buying a house, could happen in nanoseconds. ...

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