Bank of England: Publishes Discussion Paper on New Forms of Digital Money

Bank of England: Publishes Discussion Paper on New Forms of Digital Money

• Bank of England the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street
• Published a Discussion Paper that aims to broaden the debate around new forms of digital money
• Central Bank Digital Currency (CBDC) the term used to describe the digital form of central bank money
• A ‘stablecoin’ describes digital tokens issued by the private sector which aim to maintain a stable value at all times
• Their stability of value is what distinguishes them from other digital assets using new technologies
• The prospect of stablecoins as a means of payment and the emerging propositions of CBDC