Today the Bank of England provided a status update on the progress of the design phase of the Digital Pound. Alongside the main report it published an initial design note as part of its work on a blueprint for the central bank digital currency (CBDC).
The blueprint is one of four streams of work, with the others being experiments, a national conversation (engagement) and an assessment of the costs and benefits.
Key next steps include multiple design notes for the blueprint and the creation of a Digital Pound Lab to allow hands on testing of APIs, use cases and business models. The Technology Forum will be wound down in favor of deeper, more direct engagement with the support of the Lab.
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