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(Guardian)   WEBrit 3 is going great   (theguardian.com) divider line
9
    More: Unlikely, Central bank, Bank of England, Chancellor of the Exchequer, Currency, European Central Bank, England, Digital currency, Government  
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793 clicks; posted to Business » on 07 Feb 2023 at 12:53 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



9 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
Gordon Bennett [TotalFark] [OhFark]
2023-02-06 10:58:30 PM  
A cryptocurrency pound is the best argument for adopting the Euro that I've ever heard.
 
Grauenwolf
2023-02-07 1:07:07 AM  
Digital currency : Everyone has an account controlled by the government instead of a private bank, allowing them to monitor everything you do.

It does not mean "cryptocurrency", and would probably not be implemented as one because cryptocurrencies are too slow and insecure.
 
Rapmaster2000 [TotalFark]
2023-02-07 7:28:49 AM  
This will make crypto worth a lot more money by some mechanism I don't understand.  You should buy more crypto.
 
Ninja Lawtalker Guy
2023-02-07 8:42:52 AM  
An official digital currency controlled by a country's central bank, truly the crypto dream fulfilled.
 
AsparagusFTW
2023-02-07 8:46:53 AM  
Per the Telegraph, they wont allow you to save in the CBDC. Inflation infinity. That rat race is going to become so much more difficult to leave.

"Because if there is an escape that escape will be used." Lagarde
 
OccamsWhiskers
2023-02-07 10:29:13 AM  
Finally, I will be able to shop on amazon.co.uk without mailing them in a bundle of analog pound notes to pay. Digital currency is long overdue!
 
ChibiDebuHage
2023-02-07 4:27:27 PM  

Grauenwolf: does not mean "cryptocurrency", and would probably not


THIS.

Government-run government-backed digital currency is completely different from deregulated crypto.

Comparing them is like comparing the new "currency" you just printed in your basement to government-backed currency.

That doesn't mean government-backed digital currency couldn't have its own problems. We need to be cautious there. But its completely different from deregulated crypto.
 
anuran
2023-02-07 6:48:22 PM  

ChibiDebuHage: Grauenwolf: does not mean "cryptocurrency", and would probably not

THIS.

Government-run government-backed digital currency is completely different from deregulated crypto.

Comparing them is like comparing the new "currency" you just printed in your basement to government-backed currency.

That doesn't mean government-backed digital currency couldn't have its own problems. We need to be cautious there. But its completely different from deregulated crypto.


These are Tories we are talking about. Expect the absolute worst
 
thenewflesh
2023-02-08 9:34:06 AM  

anuran: ChibiDebuHage: Grauenwolf: does not mean "cryptocurrency", and would probably not

THIS.

Government-run government-backed digital currency is completely different from deregulated crypto.

Comparing them is like comparing the new "currency" you just printed in your basement to government-backed currency.

That doesn't mean government-backed digital currency couldn't have its own problems. We need to be cautious there. But its completely different from deregulated crypto.

These are Tories we are talking about. Expect the absolute worst


Yeah, that was going to be my comment. Any tech related project implemented by the Tories usually ends up with a barely functional mess that causes more problems than it solves that goes way over budget and takes way longer than promised, but just happens to siphon off millions or billions off to companies that just happen to be run by someone associated with a Tory minister.

I wouldn't trust any individual party to implement a new currency properly, but if it's a Tory plan I'd not plan to invest anything there for a few decades. Maybe you'll be able to seize some of the rubble the economy was reduced to after the program has run its course.
 
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