The blueprint will seek to answer four questions. These include defining the bank’s policy objectives, determining what functions the payment system should have, establishing who should be able to access the system and electing the right role for the Bank of England to play in the service’s delivery.
As for distributed ledger technology (DLT), the innovation poses challenges due to its ability to decentralize the verification of payments, with a communal ledger serving the role of a traditional third party.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now