The Bank of England and the UK Treasury are moving forward with a plan to launch a digital currency. It’s being called the CBDC, or Central Bank Digital Currency, dubbed (or nicknamed) 'Britcoin.'

The action is part of a global effort to stay ahead of various new currency options and prepare for a future in which consumers adopt card payments backed by companies instead of by governments. But, some critics are calling it a "solution in search of a problem", particularly in light of the country's already-strong fintech industry. 

Senior editor Philip Lagerkranser and reporter Emily Nicolle discuss the implications.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

The Bank of England and the UK Treasury are moving forward with a <a href="https://www.bloomberg.com/news/articles/2023-02-06/uk-steps-up-planning-for-digital-pound-currency-backed-by-boe?srnd=premium-uk">plan</a> to launch a digital currency. It’s being called the CBDC, or Central Bank Digital Currency, dubbed (or nicknamed) '<a href="https://www.bloomberg.com/news/articles/2023-02-07/uk-plans-20-000-limit-for-individual-holdings-of-digital-pounds">Britcoin</a>.' The action is part of a global effort to stay ahead of various new currency options and prepare for a future in which consumers adopt card payments backed by companies instead of by governments. But, some critics are calling it a "solution in search of a problem", particularly in light of the country's already-strong fintech industry. Senior editor <a href="https://www.bloomberg.com/authors/AC6jpxwTIuU/philip-lagerkranser">Philip Lagerkranser</a> and reporter <a href="https://www.bloomberg.com/authors/AVmRMyBPWU8/emily-nicolle">Emily Nicolle</a> discuss the implications.
Subscribe to the Bloomberg Crypto Newsletter at <a href="https://bloom.bg/cryptonewsletter">https://bloom.bg/cryptonewsletter</a>

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bloomberg Crypto

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority. In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

What’s A ‘Britcoin’?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1b584ea1-0ac3-4150-b2bd-afb701540e82/transcript

Advertisement