Press "Enter" to skip to content

Bank of England Evaluates the idea of Digital Money


Dave Ramsden, Governor of the Bank of England, made new statements about digital currencies. He says that the idea of digital money supported by the central bank should be examined and evaluated in detail.

Central Bank Governor Mark Carney addressed this issue in August and expressed the idea of ​​digital money. Carney said that a central bank-backed digital currency could replace the dollar and this project will be evaluated.

A similar comment was made by Dave Ramsden on the 20th of October. Ramsden said that the current international payment infrastructure is not very efficient and believes that this problem could be solved with a digital money project.

According to Ramsden, the Bank of England will to come together with other central banks to evaluate a common digital money project and can make payments both less costly and more efficient.

Speaking to Bloomberg, Ramsden said,

“We must always force ourselves to do better because people in both developed and developing countries want a more efficient system.”

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.