The Bank of England will attend the digital money meeting to be held tomorrow. The meeting, led by the Official Money and Finance Institutes Forum (OMFIF), will be attended by the Bank of England as well as the central banks of Switzerland and Hungary and ING Nederland.
Officials from the UK, Hungary and Switzerland central banks will meet on 19 August. In this meeting organized by OMFIF, the issue of digital central bank money will be discussed. Representatives of central banks will share their findings on digital currencies and evaluate the future of digital currencies.
Central Banks Come Together
The Fed announced last week that it continues to consider the digital dollar idea. He announced that he will expand the scale of his digital money test studies in China and that these studies will be spread to four different regions. While this kind of news comes from countries such as the USA and China, European countries continue to do research on digital currencies.
Simon Scorer, the Bank of England’s fintech expert, Anko Szombati, one of the directors of the National Bank of Hungary, and Thomas Moser, Member of the Board of the Swiss National Bank, will meet at the meeting tomorrow. In the meeting, which will be attended by Cees Van Wijk from ING’s blockchain team, the issue of digital money will be brought to the agenda.
These names representing the central banks of England, Switzerland and Hungary; They will share their research on digital central bank currencies so far, their findings from these researches, and the advantages and disadvantages of digital currencies.
Is It Possible To See Digital Pound?
The Bank of England has been researching digital currencies for several years. However, we can say that the central bank has started to intensify its researches, especially in recent months. Bank of England Governor Andrew Bailey announced in a webinar he attended last month that Britain could develop its own digital currency. Stating that they are continuing to investigate the issue as the Central Bank, Bailey said; He emphasized that if the UK launches its own digital par, there could be a big change in the payment infrastructure in the country.
The Bank of England does not carry out research on digital central bank money alone. Countries such as the UK, Sweden, Canada and Japan started a joint working group a few months ago and started to cooperate on digital money. Simon Scorer, who will represent the Bank of England; He may also share some information about these researches at the meeting tomorrow.