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The Bank of England and the UK Treasury department have announced that PayPal, Amazon, and Visa will be among the corporate representatives participating in two advisory groups that are exploring a possible Central Bank Digital Currency.
Earlier in 2021, the UK formed the advisory groups – the Technology Forum and the Engagement Forum – as well as a separate task force to coordinate exploratory work on a potential CBDC.
The Technology Forum will help the BoE understand the technological challenges of designing, operating, and implementing a digital fiat currency. The Engagement Forum will aid the central bank and the Treasury understand the practical challenges surrounding a CBDC. That group will include key stakeholders from the areas of industry, civil society, and academia.
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