The Bank of England and the UK Treasury have announced a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential British CBDC. But how could a digital Pound actually work? As it happens, this is something that Consult Hyperion knows rather a lot about. Apart from our work on the first British central bank digital currency (Mondex) back in the 1990s, our work on the first population-scale mobile money scheme (M-PESA) in the 2000s and our work on the most transformational contactless payment roll-out (Transport for London) in the 2010s, our practical experience across implementation platforms means that we understand the architectural options better than anyone.
Now that Canada has put MintChip to one side, let Scotland drive a technological stake into the high ground and become the world’s first electronic currency state. As I said in this article from 13 years ago.
I was surprised to hear that Facebook had obtained an electronic money licence, but only because it had taken so long for them to do it.
To most people, words like cash, currency, money, moolah, credit, loot, greenbacks and shekels are interchangeable. But they mean different things. Would a future money media cheat sheet be helpful?