{"id":302045,"date":"2025-01-17T07:30:42","date_gmt":"2025-01-17T07:30:42","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=302045"},"modified":"2025-01-19T08:37:46","modified_gmt":"2025-01-19T08:37:46","slug":"bank-of-england-to-open-digital-pound-lab","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=302045","title":{"rendered":"Bank of England to Open \u201cDigital Pound Lab\u201d"},"content":{"rendered":"

Kit Knightly \u2013 Off-Guardian Jan 15, 2025<\/strong><\/h1>\n

The Bank of England announced yesterday that they will be launching a \u201cdigital pound lab\u201d to \u201cexperiment\u201d with different \u201cuse-cases\u201d and set-ups of the UK\u2019s planned Central Bank Digital Currency (CBDC).<\/p>\n

This signals the end of the \u201cconsultation and response phase<\/a>\u201d and the beginning of the \u201cdesign phase\u201d, according to the BoE\u2019s website<\/a>.<\/p>\n

This is the first real news on the digital currency front for some time.<\/p>\n

In fact, after an action-packed 2023 saw at least 135 of the world\u2019s 197 nation states<\/a> developing a digital currency, things have been eerily quiet on that front. Some nations \u2013 including Japan<\/a> and Canada<\/a> \u2013 have paused or even entirely scrapped CBDC development.<\/p>\n

Even the Bank of England\u2019s announcement of the lab contains much softer language than the previously energetic and enthusiastic endorsements of digital currency. Noting the CBDC would be \u201cused alongside banknotes\u201d<\/em> instead of replacing them, and that \u201cNo decision has been made on whether to proceed with a digital pound.\u201d<\/em><\/p>\n

Whether this is due to perceived public resistance to the idea, unexpected technological limitations, or some change in strategy we can\u2019t know \u2013 it could easily be a mix of all three.<\/p>\n

Still, it\u2019s a reminder that digital currency likely remains the long-term goal.<\/p>\n

But well done to all awakened people who have contributed to halting the roll-out thus far.<\/p>\n

—<\/p>\n

Support Off-Guardian:<\/p>\n

Ko-fi<\/a><\/p>\n

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 <\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Whether it is due to perceived public resistance to the idea, or unexpected technological limitations, the UK\u2019s planned Central Bank Digital Currency (CBDC) will not replace the pound. Kit Knightly explains<\/p>\n","protected":false},"author":39262,"featured_media":262330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[66],"tags":[],"class_list":["post-302045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-Economics"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/users\/39262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=302045"}],"version-history":[{"count":3,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302045\/revisions"}],"predecessor-version":[{"id":302057,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302045\/revisions\/302057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/media\/262330"}],"wp:attachment":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=302045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=302045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=302045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}