UK Bitcoin community reacts to incoming CBDC and digital pound rollout

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As the UK Treasury seeks a head of CBDC, the local bitcoin community shares its thoughts on the move.

The UK treasury is on the hunt for a head to its central bank digital currency project: what do key opinion leaders in the UK think?

to lead the development of a digital pound.Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams Disclaimer : This article is for informational purposes only.) but is yet to announce a deployment.o challenge the momentum traders during early Tuesday.

The work is described as”Important, complex, and cross-cutting” and will”require extensive engagement across and beyond the HM Treasury.” According to the Linkedin post , the Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound.Bitcoin.The role of the Head of CBDC may bring the UK government closer to its aim of rolling out a CBDC.” However, it confirmed there had been no final decision to launch such a digital currency in the Middle Eastern nation.HM Treasury’s job posting for a CBDC Head.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Source: LinkedIn Danny Scott, CEO of a UK-based Bitcoin ( BTC ) company, CoinCorner, told Cointelegraph that a CBDC could be missing the “Actual real-world use and purpose–which is what we often see.Furthermore, prices of Gold and Oil print mild gains while the US Dollar Index (DXY) retreat.

” “For those that have been in the industry for a cycle or two, we’ve seen the hypes come and go, altcoins, blockchain, distributed ledger, ICOs, DeFi, NFTs.It also intends to review policy, legal, and regulatory considerations.You see large companies come along and jump on the latest hype to avoid looking like they’re falling behind, it falls under R&D and exploratory for most, which is perfectly understandable.” Scott, who has been working and building in the Bitcoin space for over a decade, explained that sometimes the public could misinterpret the research and development projects in the crypto space and perhaps confuse them with useful real-world solutions.“A CBDC (digital pound) doesn’t fall far from this, many countries around the world are exploring this and trying to understand the benefits of this over the current system, fair enough, this will happen.E.” Indeed the move towards a digital pound matches the trend among central banks.Furthermore, news that the US confronts China over companies’ ties to the Russian war effort, shared by Bloomberg, joins the talks surrounding the US debt ceiling in the Senate to probe the market optimists.

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