The Bank of England and HM Treasury Seek Experts for CBDC Advisory Group
The Bank of England (BoE) and HM Treasury have put out a call for academic experts to join a new advisory group that will focus on central bank digital currencies (CBDCs). This comes after the release of a report in February that assessed the need for and potential design of a digital pound. The CBDC Academic Advisory Group will provide guidance in the design phase of a potential digital pound and members will come from various disciplines such as economics, law, marketing, and computer science.
Key points:
1. A call for interest has been issued to seek academic experts for the CBDC Academic Advisory Group.
2. The group will focus on the design phase of a potential digital pound.
3. Experts from disciplines like economics, law, marketing, and computer science will be part of the group.
4. Topics that will be discussed include monetary policy, financial inclusion, privacy, and tech capabilities.
5. The aim is to take an informed and comprehensive approach to the design of a digital pound.
Hot Take
The Bank of England and HM Treasury are making a significant move towards the potential development of a digital pound by forming an advisory group of academic experts. This shows that CBDCs are being seriously considered as a necessary step for the future. By involving experts from various disciplines, the aim is to ensure a comprehensive and informed approach to the design phase. This signals a recognition of the importance of diverse ideas and challenges to prevailing wisdom.
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