R&D and Prospects for the Digital Pound in the Future

Authors

  • Jiaze Tian

DOI:

https://doi.org/10.54097/14jzns02

Keywords:

Digital pound; Privacy; Financial markets; Data protection

Abstract

With the development of global digitisation, many countries are now focusing on central bank digital currencies. Digital currency will become the mainstream payment method in the future, so countries like the United States, China, the United Kingdom, Japan, European countries and others are actively striving for a head start in developing digital currencies and seeking to dominate the future payment field. The United Kingdom is an early start to putting the concept of digital currency into the country's research, which is currently in the ‘design’ phase. The Bank of England has initially proposed a digital currency model and lists 3 to 5 the issuance's primary purpose. The following introduces the fundamental progress of the digital pound, the modality concept, the current research results, and the future development trend of the digital pound are described in detail. Finally, there is a comparison between digital pound and digital yuan, as with digital US dollars.

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References

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Published

22-01-2024

How to Cite

Tian, J. (2024). R&D and Prospects for the Digital Pound in the Future. Highlights in Business, Economics and Management, 24, 940-945. https://doi.org/10.54097/14jzns02