PayPal, Visa, and Amazon to help the Bank of England work on its CBDC

Thursday 30 September 2021 12:09 CET | News

The Bank of England and the UK Treasury department have announced that PayPal, Amazon, and Visa will be among the corporate representatives participating in two advisory groups that are exploring a possible Central Bank Digital Currency.

Earlier in 2021, the UK formed the advisory groups – the Technology Forum and the Engagement Forum – as well as a separate task force to coordinate exploratory work on a potential CBDC.

The Technology Forum will help the BoE understand the technological challenges of designing, operating, and implementing a digital fiat currency. The Engagement Forum will aid the central bank and the Treasury understand the practical challenges surrounding a CBDC. That group will include key stakeholders from the areas of industry, civil society, and academia. 

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Keywords: Visa, banks, digital currency, CBDC
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United Kingdom
This article is part of category

Blockchain & Cryptocurrencies