Bank of England's CBDC program prioritises privacy and explores alternative ledgers, shaping the future of digital pound development
The Bank of England (BoE) has taken significant strides in its Central Bank Digital Currency (CBDC) program, focusing on privacy and considering alternative ledger technologies. Tom Mutton, the BoE's director of fintech, recently shed light on the privacy aspect of the CBDC and the potential use of different ledgers as the underlying technology.
During a recent meeting hosted by the BoE to discuss the design of the digital pound, Mutton revealed a clear disagreement among technologists regarding the choice of the ledger for the CBDC. As a result, the BoE plans to conduct trials with multiple ledger technologies, including blockchain.