Bank of England releases Central Bank Digital Currency research roadmap
4 min read
fairly difficult
The Bank of England released a discussion paper on Central Bank Digital Currency which outlines a potential model and a roadmap for research
Today the Bank of England published a discussion paper: "Central Bank Digital Currency: opportunities, challenges and design". It also plans to run a webinar in early April.

The paper starts by outlining one of the drivers behind a consumer-focused Central Bank Digital Currency (CBDC) – the declining use of cash.

In 2006, 63% of payments were cash, and 13% used debit cards. In 2018 just 28% of volumes used cash, and 39% of payments were via debit cards, with increasing use of automated bank payments and credit cards. So the Bank asks, as the most trusted issuer, should it offer electronic money to complement cash?

The report highlights both the opportunities outlined in the diagram and the usual risks.

Outgoing Bank of England Governor, Mark Carney, raised the stablecoin issue in the paper's forward: "It could ensure that the public has continued access to a risk‑free form of money issued by the central bank, which may be especially important in the…
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