{"id":76525,"date":"2023-03-31T15:53:26","date_gmt":"2023-03-31T12:53:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76525"},"modified":"2025-09-10T17:52:32","modified_gmt":"2025-09-10T14:52:32","slug":"bank-of-england-envisions-coexistence-of-cbdc-and-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bank-of-england-envisions-coexistence-of-cbdc-and-cryptocurrencies\/","title":{"rendered":"Bank of England envisions coexistence of CBDC and cryptocurrencies"},"content":{"rendered":"

The Bank of England’s Chief Digital Officer Katy Fortune said that in the future she envisions a mixed ecosystem of various forms of money, including CBDC<\/a> and stablecoins<\/a>. This was reported by Decrypt<\/a>.<\/p>\n

In her view, in the world of cryptocurrencies, \u201cit is very useful to have a central bank digital currency that would serve as a bridging link.\u201d<\/p>\n

She added that CBDC would also establish legal standards, which, in turn, would help stimulate innovation.<\/p>\n

\n

\u201cI think that stablecoins and CBDC have great potential for creating a new economy. Money should evoke the same feelings as when we turn on the lights \u2014 I don’t think about electricity, but the fact that we all use the same energy matters,\u201d Fortune explained.<\/p>\n<\/blockquote>\n

According to the BoE representative, the main focus should be on building CBDC infrastructure that enables people to conduct smoother financial transactions.<\/p>\n

\n

\u201cI have no doubt that once the government puts the processes in place, they will start creating things we hadn’t even imagined,\u201d she added.<\/p>\n<\/blockquote>\n

In April 2021, the Bank of England and the Treasury formed a joint working group<\/a> to study CBDC. The Lords’ Economic Affairs Committee joined<\/a> the process.<\/p>\n

However, later, BoE Governor Andrew Bailey doubted<\/a> the need to create a digital pound.<\/p>\n

In February 2023, Britain’s finance minister Jeremy Hunt stated<\/a> that the launch of a CBDC would be possible in this decade, but not before 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of England’s Chief Digital Officer Katy Fortune said that in the future she envisions a mixed ecosystem of various forms of money, including CBDC and stablecoins.<\/p>\n","protected":false},"author":1,"featured_media":76526,"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":[216,1095,807],"class_list":["post-76525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-england","tag-cbdc","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76525","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=76525"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76525\/revisions"}],"predecessor-version":[{"id":76527,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76525\/revisions\/76527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76526"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}