{"id":74850,"date":"2023-03-01T17:48:20","date_gmt":"2023-03-01T15:48:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74850"},"modified":"2025-09-10T02:02:57","modified_gmt":"2025-09-09T23:02:57","slug":"bank-of-england-officials-outline-benefits-of-cryptocurrencies-for-business","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bank-of-england-officials-outline-benefits-of-cryptocurrencies-for-business\/","title":{"rendered":"Bank of England Officials Outline Benefits of Cryptocurrencies for Business"},"content":{"rendered":"

The Bank of England’s deputy governor for monetary policy, Ben Broadbent, said that new technologies, such as digital assets, open up profitable opportunities for business. This is reported by Bloomberg<\/a>.<\/p>\n

In his words, the main advantage of blockchain-based products and services is their speed of adoption. Broadbent added that the BoE’s closest scrutiny is focused on the regulatory implications of new payment technologies.<\/p>\n

\n

\u201cClearly, this opens up opportunities for financial institutions, businesses and individuals. We expect further improvements, reduced frictions and lower payment costs,\u201d the BoE spokesperson said.<\/p>\n<\/blockquote>\n

Earlier, UK Chancellor Jeremy Hunt said<\/a> that the launch of a national digital currency (CBDC<\/a>) could come this decade, but not before 2025. In his view, the digital pound could become a new \u2018reliable and accessible\u2019 means of payment.<\/p>\n

British authorities began studying CBDC technology<\/a> as early as 2021, forming a working group that included the Treasury and the Bank of England. Later, joined<\/a> them, the House of Lords’ Economic Affairs Committee.<\/p>\n

Earlier in January 2023, Bank of England Governor Andrew Bailey expressed doubt<\/a> about the need to create a digital pound.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of England’s Deputy Governor for monetary policy, Ben Broadbent, said that new technologies such as digital assets open up profitable opportunities for business.<\/p>\n","protected":false},"author":1,"featured_media":74851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[216,1138],"class_list":["post-74850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-england","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74850"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74850\/revisions"}],"predecessor-version":[{"id":74852,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74850\/revisions\/74852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74851"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}