Bank of England Begins Stage One CBDC

The UK is inching towards totalitarianism as it greenlights the research and development of stage one of a central bank digital currency, the digital pound.

The Bank of England released a consultation paper recently about moving forward with the research and development for its digital pound and Sir John Cunliffe gave a speech about this.

While this process will take a few years to do the research and to develop just the first stages of a digital currency, this is a step in the wrong direction. That is for any regular citizen living in the UK who does not like tyranny.

Links referenced to in the video: 👇
https://www.bankofengland.co.uk/paper/2023/the-digital-pound-consultation-paper?sf174942083=1

https://www.bankofengland.co.uk/speech/2023/february/jon-cunliffe-speech-at-uk-finance-update-on-central-bank-digital-currency

Timecodes
0:00 Video Introduction
0:53 Why the Digital Pound Would be Needed
3:06 Criticizing Crypto Assets
5:50 Decline of Cash
7:55 What the Rollout of the CBDC will Look Like

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#BOE #DigitalPound #CBDC