Bank of England considering introduction of digital currency


united kingdom worthy christian news

by Karen Faulkner, Worthy News Correspondent

(Worthy News) – The Bank of England has launched a consultation on the creation of a digital British currency, the London Standard reports. If introduced, the new British pound would have intrinsic stable value and would be issued by the Bank of England, not the private sector.

Launched together with the UK’s Treasury, the consultation considers how a digital currency would work, the Standard said. Businesses and members of the public have been invited to review its design and implementation.

The Bank envisions that households and businesses could use the digital currency interchangeably with cash and bank deposits to make everyday payments in-store and online, the Standard reports. The currency would not be used for savings and would not pay interest. Users would have the same level of privacy as they do with a regular bank account; neither the government nor the Bank would have access to personal data.

In a statement: the Governor of the Bank of England, Andrew Bailey, said: “As the world around us and the way we pay for things becomes more digitalized, the case for a digital pound in the future continues to grow. A digital pound would provide a new way to pay, help businesses, maintain trust in money, and better protect financial stability.”

“However, there are a number of implications which our technical work will need to carefully consider,” Bailey added. “This consultation and the further work the Bank will now do will be the foundation for what would be a profound decision for the country on the way we use money.”

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Latest Worthy News

Wave of Attacks on U.S. Churches Raises Alarm as Anti-Christian Hostility Surges
Australian Jews Survive Arson Attack On Synagogue; Israeli Restaurant Smashed
Deadly Flood Ravages Texas Christian Camp: At Least 24 Dead, Dozens Missing After Guadalupe River Overflows at Camp Mystic
Trump Signs ‘One Big Beautiful Bill’ Into Law in Historic July 4 Celebration as Nation Marks 250th Year
EU To Set Up Global Trade Alternative, Challenging US Dominance (Worthy News In-Depth)
Trump Speaks To Ukraine’s Leader After Unprecedented Russian Strikes
Artificial Intelligence Taking Over Britain’s Health Service Within 10 Years (Worthy News Focus)
Netanyahu Heads to Washington as Trump Pushes ‘Deal of the Century’
Trump Tariff Strategy Nets $106 Billion in Customs Revenue as Trade Policy Pays Off
Copyright 1999-2025 Worthy News. All rights reserved.

If you are interested in articles produced by Worthy News, please check out our FREE sydication service available to churches or online Christian ministries. To find out more, visit Worthy Plugins.

Worthy Christian News