WEB Notes: In a few years, the Bank of England will head this route they say. If you recall, the recent COVID bailout package in the U.S. had a provision for “digital dollars”, though it was removed from the final draft. This signifies how close we are to losing cash. Then we have stories about Kroger not giving customers their coins change, even an email in my inbox about a post office not giving a customer back coin change. Is this the beginning…
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.
“We are looking at the question of, should we create a Bank of England digital currency,” Bailey said Monday in a webinar event with students. “We’ll go on looking at it, as it does have huge implications on the nature of payments and society.”
“I think in a few years time, we will be heading toward some sort of digital currency,” he added.
Source: MSN