A new platform could enable a wide range of new technological capabilities. However, in
the UK, this approach would have a long lead time compared to the renewed RTGS
which will start delivering in 2024.

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The global central banking community continues to experiment with technologies
associated with wholesale CBDC (including establishing new infrastructure). The Bank
engages closely with such initiatives to evaluate whether wholesale CBDC technologies
offer benefits to the UK and, if so, whether they might best be delivered via the renewed
RTGS service, or whether new infrastructure might be needed. In particular, the Bank is
closely involved with the work of the BIS Innovation Hub, especially its London Centre,
so is well positioned to understand and learn from the range of experiments and
approaches being trialled internationally with regard to wholesale CBDC, and wholesale
settlement more broadly.

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Source: https://blockchainconsultants.io/the-digital-pound-a-new-form-of-money-for-households-and-businesses-consultation-paper/?utm_source=rss&utm_medium=rss&utm_campaign=the-digital-pound-a-new-form-of-money-for-households-and-businesses-consultation-paper