Is British “digital pound” death of cash? (PA)
(Picture: PA Wire)Could the humble quid in your pocket soon be going digital?
The British government’s talking about minting a new virtual version of our national currency.
Andrew Griffith, economic secretary to the Treasury, tells the Treasury Select Committee they’re investigating how it would all work as part of a future finance consultation.
It comes as China beta tests digital yuan in major cities and the European Central Bank studies a virtual euro.
But what are the implications for your bank balance, reliability and privacy?
The Leader podcast’s joined by Brett Scott, a former City broker and author of Cloudmoney: Cash, Cards, Crypto and the War for our Wallets.
We discuss the twin concepts of a Bank of England-issued digital currency and a privately-issued “stablecoin” backed by fiat money.
Plus, the future of physical cash and does the chequebook have a place in the 21st Century.
Listen above, and find us on your Spotify Daily Drive or wherever you stream your podcasts.
