30 Dec '17, 1pm

Bank of England plots its own bitcoin-style digital currency

T he Bank of England could green light its own Bitcoin -style digital currency as early as 2018, The Telegraph can disclose. A research unit set up by the Bank is investigating the possible introduction of a crypto-currency linked to sterling. If approved, a virtual currency issued by the bank would pave the way for a revolutionary shake up of high street banking. A Bank of England-issued digital currency would potentially allow British citizens to keep their money - in digital form - with the central bank itself, dispensing with the need for a retail bank. Big-ticket transactions, such as buying a house, could happen in nanoseconds. The research unit was set up in February 2015 and, according to a Bank of England spokesman, could report back within the next 12 months. The Bank has been trialling technology for digital transactions, using the same technology that underpins...

Full article: http://www.telegraph.co.uk/news/2017/12/30/bank-england-p...

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