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United Kingdom: The Digital Pound Foundation promotes the growth of CBDCs

United Kingdom: The Digital Pound Foundation promotes the growth of CBDCs

Thought tank Wants to make sure The UK is keeping pace with the growing digital environment.

The purpose of the DPF

The Digital Pound Foundation (DPF), a group of technology, innovation and regulatory experts, announces its launch as an independent, non-profit organization England.

According to a statement issued on Thursday, the DPF will promote the implementation of the Central Bank Digital Currency (CPTC) in the country.

As previously announced by the Cointelegraph, the UK government in April formed a CBDC working group to look into preliminary issues related to the creation of a national digital currency.

DPF, as part of its stated mandate, will conduct research and collaborate with stakeholders to support the UK CPTC project.

The Foundation will support development efforts, as well as strong regulation of the UK CBDC program and favorable legal framework for privately issued digital currencies.

Different opinions

According to DPF Chairman Jeremy Wilson, the social and technological transformations of a CPTC for the UK are deeply rooted, so a committee should be formed to provide the necessary support to all stakeholders.

DPF may join a panel of finance and fintech experts already restructured by the Bank of England to assist the UK’s CBDC development efforts.

Recently, the famous whistleblower and former US Federal Bureau of Investigation agent Edward Snowden Described CBDCs are a perversion of cryptocurrencies.

In a note to the Cointelegraph, Wilson put forward a different view:

Our view is that CPTC should not be viewed as a cryptocurrency. The two differ fundamentally in their concept, and in the application cases in which they are used, respectively.

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According to the release, co-members are joining Wilson and other members of the DPF, including Ripple, Quantum, Electronium and The Realization Group.

Richard Ells, CEO of Electronics, will also serve on the DPF Board of Directors. According to Els, CBDCs have the potential to play a significant role in promoting greater funding around the world.

However, in a survey of 2,500 adults in the UK released in August, 30% of participants said it could be done by a CBDC. Doing more harm than good on the land.

Clement Dubois

I like cryptocurrency. I have been reading this for many years, but I have invested in it and worked in this field. In addition, I do articles on the topic of trying to be crisp!