UK: introduction of digital currency was frightened

Possible introduction by the Bank of England Digital Pound Sterling for widespread use can strike on the financial stability of the UK and the privacy of data, as well as to increase the cost of loans. This is stated in the report of British parliamentarians, writes TASS.

The authors are afraid that the confidentiality “of accounts may be violated due to bottlenecks in cybersecurity.” In addition, the “centralized digital currency system, which will be an important element of the national infrastructure, may be a target for attacks from hostile states,” reported in the report. Among the advantages of the digital currency of parliamentarians are called an increase in the efficiency of trading in securities.

Previously, the Treasury of Great Britain and the Bank of England created their own working group to study the issue of digital currency. In case of release, it will not replace cash, but only complement them.

Several countries are engaged in the development of digital currencies, including Sweden, France, Russia and others. The new impetus to developments gave the growth of Bitcoin and the trend to the refusal to use cash as a whole.

/Media reports.