Would digital pound boost post-Brexit City of London?
SATURDAY, 01 MAY 2021
Would digital pound boost post-Brexit City of London?
CityUnited Project thinks that a #digitalpound must be at the heart of Britain’s efforts to strengthen London’s global attraction as a #financialcenter after Brexit.
CityUnited argued that a digital pound would allow fractions of a currency to be spent and traced without costly overheads to collect and distribute taxes in real-time and spawn more efficient, real-time supervision of markets.
The Bank of England is already considering establishing a CBDC (Central Bank Digital Currency). But, CityUnited Chairman Daniel Hodson said that it ought to be a greater priority as this technology is the future and would bring significant benefits.
What do you think? Is a digital pound the solution for the UK?
Source: @Huw Jones article at Yahoo Finance