The Bank of England will launch a CBDC and distributed ledger experiment

The Bank of England said it plans to conduct a series of experiments with distributed ledger technology (DLT) and wholesale central bank digital currencies (wCBDCs) to keep pace with changes in the payments landscape and to assess the opportunities and risks presented by fintech developments. The bank said it would work with the Treasury, the Payment Systems Regulator and the Financial Conduct Authority to ensure that the unity of money is maintained even when it comes to stablecoins. That is, to ensure that all forms of money - cash, bank deposits, etc. - are convertible with each other. In the discussion paper, the bank said it would conduct a series of experiments to ensure that the unity of money is maintained between stablecoins and tokenized deposits (i.e. deposit claims represented on a programmable platform).