Bank of England to conduct CBDC and distributed ledger experiments
The Bank of England stated that it plans to conduct a series of experiments on distributed ledger technology (DLT) and wholesale central bank digital currency (wCBDC) to keep up with changes in payment patterns and evaluate the opportunities and risks brought by financial technology development. The bank stated that it will work with the Treasury, payment system regulators, and financial behavior regulators to ensure that even stablecoins maintain the singularity of currency. In other words, ensuring that all forms of currency - cash, bank deposits, etc. - can be exchanged with each other. In the discussion document, the bank stated that it will conduct a series of experiments to ensure the singularity of currency between stablecoins and tokenized deposits (i.e. deposit rights represented on programmable platforms).
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