According to a Reuters report, Jon Cunliffe, the deputy governor of the Bank of England, said on Thursday that he believes the Bank of England has sufficient reasons to issue a domestic CBDC, although no relevant decision has yet been reached.

英国央行副行长:英国 CBDC 箭在弦上,但不可能像现金一样同时保证匿名和可靠性

Cunliffe made the above statement in a speech delivered by the Central Bank Think Tank of the Official Forum of International Monetary and Financial Institutions (OMFIF). He also believes that under the supervision of the Bank of England, the Bank of England is working hard to shift from cash to online transactions and credit and debit card payments. The epidemic has accelerated the speed of de-cashing.

“We may not be there yet, but in this country, if we want to retain a public currency that can be used on a large scale for a long time and provide this service to all citizens, the country must issue a public digital currency.”

Last month, Finance Minister Rishi Sunak asked the Bank of England and other regulators to study the case of creating a central bank digital currency, which he referred to as “British currency” in response to challenges from cryptocurrencies such as Bitcoin.

When banks and some large payment processors have long been able to directly hold funds in the Bank of England and use them to make payments between them, the public’s reliance on banks and other payment providers is also increasing.

Cunliffe compares the payment infrastructure to a “BlackBerry”, which can easily be subverted by the equivalent of Apple’s iPhone, which is more attractive to the public than its more business-oriented predecessors. He also warned that leaving innovation to the private sector may result in the payment system being manipulated by one or two private companies, which may threaten national rights and the privacy of citizens.

Cunliffe mentioned that British politicians need to determine the privacy of the central bank’s digital currency. But it is unrealistic to have a digital currency that is as anonymous as cash without unacceptable security risks.