England announces group to develop digital currency

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The UK's footsteps arrive at a crucial moment, the Bank of England, the body charged with dictating the country's monetary policy, launched a task force to explore the feasibility of creating a digital currency.


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The idea is that digital currency is a "new form of digital money" issued by the central bank, for use by families and businesses. What we can see is that the whole world is taking the development of digital currencies seriously, because they believe that the right time to digitize money has come.

The UK is already known for being at the forefront of innovation and therefore is optimistic about technologies such as blockchain and artificial intelligence, but it is worth remembering that digital currency will not replace money, it will only be a complement.

There is no definite trajectory on what the future holds for the digital asset, however it is possible to note that several countries are adopting this strategy of creating digital currency, several central banks around the world are exploring the development of a digital currency and Kingdom Kingdom does not want to be left behind.

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2 comments
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Its a good and encouraging announcement from the UK government but I am still not able understand if these sovereign coins would use blockchain to issue their digital currencies and will allow the holders to maintain the privacy.

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