The Bank of England and HM Treasury have established the CBDC Academic Advisory Group (AGG) to create a comprehensive architecture for the digital pound, aiming to accelerate its development and promote interdisciplinary discussions.
Facts
- The AGG consists of academics and experts from various fields such as monetary policy, finance, economics, law, innovation theory, marketing, and business.
- The AGG’s main goal is to inform the development of the digital pound’s architecture and collaborate with private sector innovators on proof of concepts and experimentation.
- The group aims to facilitate knowledge exchange and research collaboration between academics and developers, fostering diverse ideas and open debate.
- The formation of the AGG follows a consultation led by the CBDC Taskforce, indicating the beginning of the digital pound’s design phase.
- The AGG’s establishment allows the digital pound project to be accelerated if approved, serving as a key connection between academia and development efforts.
