Post by hendragon on Jun 11, 2021 9:40:59 GMT
The former head of the FCA Andrew Bailey is by all accounts, attempting to introduce a digital currency for our central bank. I quote:-
"If central banks launch digital versions of their currencies it would be one of the biggest innovations in central bank history, Bank of England Governor Andrew Bailey said on Friday."
"I am very encouraged by progress on that front, I am very encouraged by that fact that we are getting to grips with what is a critical innovation," Bailey said at the launch of a joint innovation hub with the Bank for International Settlements.
"If this comes to pass, it will be one of the most fundamental innovations in the history of central banking. It will move us into a new era," Bailey said.
The source was Rueters.
Mr Bailey you were unable to regulate a small FCA register. A digital currency is a far larger prospect. More worryingly the FCA have been unable to deal with errors in any form of timely or sensible manner. For the sake of all of us in the UK please do not make as much of a mess with a digital currency as you did at the FCA. The consequences will be far far worse. There were a number of issues that you did not, or chose not to, "get to grips with" at the FCA. The consequences doing the same with a digital currency could be nothing short of catastrophic.
"If central banks launch digital versions of their currencies it would be one of the biggest innovations in central bank history, Bank of England Governor Andrew Bailey said on Friday."
"I am very encouraged by progress on that front, I am very encouraged by that fact that we are getting to grips with what is a critical innovation," Bailey said at the launch of a joint innovation hub with the Bank for International Settlements.
"If this comes to pass, it will be one of the most fundamental innovations in the history of central banking. It will move us into a new era," Bailey said.
The source was Rueters.
Mr Bailey you were unable to regulate a small FCA register. A digital currency is a far larger prospect. More worryingly the FCA have been unable to deal with errors in any form of timely or sensible manner. For the sake of all of us in the UK please do not make as much of a mess with a digital currency as you did at the FCA. The consequences will be far far worse. There were a number of issues that you did not, or chose not to, "get to grips with" at the FCA. The consequences doing the same with a digital currency could be nothing short of catastrophic.
