• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    MoneyGram

    MoneyGram dragged to court for libel against Ripple

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 1

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 2

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    MoneyGram

    MoneyGram dragged to court for libel against Ripple

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 3

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 4

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Industry News

Bank of England exploring UK cryptocurrency, says governor Andrew Bailey

CBDCs research is witnessing an upsurge the world over

Gurpreet Thind by Gurpreet Thind
July 13, 2020
in Industry News
2 min read
Bank of England exploring UK cryptocurrency, says governor Andrew Bailey
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

A UK cryptocurrency could be a reality soon, reports The Bank of England’s governor, Andrew Bailey. In his latest statement, the governor said that the bank recently discussed the mechanisms of a probable UK cryptocurrency backed by the central bank.

Central bank digital currencies, or CBDCs, are being developed by many countries. China is leading the race with its digital Yuan already entering the testing phase in prominent cities. The statement from BOE’s Governor highlights the fact that western economies are also vigorously exploring the prospects of virtual currency to counter China’s digital currency initiatives.

UK cryptocurrency is a highly likely scenario

A Bloomberg report states that BOE Governor Andrew Bailey entered into a webinar discussion with students about a UK cryptocurrency. They explored the relevance and the context of having a virtual currency in the United Kingdom and its possible uses.

RelatedPosts

MoneyGram dragged to court for libel against Ripple

Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

MicroStrategy partners with MIT to strengthen Bitcoin network

MicroStrategy buys more Bitcoin yet again

Bailey said that the bank is currently debating whether or not to create a UK cryptocurrency. The bank will continue to explore this concept since it will have a massive impact on the financial sector as well as the society in general. With cryptocurrencies gaining steam, central bank digital currencies are emerging as the next logical step in crypto evolution.

Digital currencies are the way forward

The Bank of England is also studying CBDCs of other central banks to create an indigenous version of the Pound. If ever created, the virtual Pound is going to be backed by an array of conventional assets to give it real-world backing. A basket of assets will be supporting the digital currency before it goes full-on mainstream.

Bailey said that the country’s financial sector would head towards this course in the next few years. Such an acceptance from one of the biggest central banks in the world means a lot for the crypto industry.

Sarah John, BOE’s chief cashier, also echoed similar sentiments earlier this year. She stated that time is ripe for central banks to start researching more on virtual currencies. She made a comment citing competition from privately-backed digital currencies such as Facebook’s Libra.

Tags: banksBitcoin Industrycbdccentral bank
Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

MoneyGram
Industry News

MoneyGram dragged to court for libel against Ripple

March 2, 2021
Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 5
Industry News

Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

March 2, 2021
MicroStrategy  partners with MIT to strengthen Bitcoin  network 6
News

MicroStrategy partners with MIT to strengthen Bitcoin network

March 1, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

MoneyGram

MoneyGram dragged to court for libel against Ripple

March 2, 2021
Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 7

Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

March 2, 2021
LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike 8

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike

March 2, 2021
Bitcoin

Bitcoin worth $4.5 billion transferred in historic event

March 1, 2021
MicroStrategy  partners with MIT to strengthen Bitcoin  network 9

MicroStrategy partners with MIT to strengthen Bitcoin network

March 1, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 10

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.