On a panel about digital money's future in 2024, I highlighted the need for Central Bank Digital Currencies (CBDCs) to offer compelling use cases to encourage public adoption, emphasising the balance between innovation and choice, especially for those reliant on cash in an increasingly digital economy.

Discover how a digital Pound can enhance sustainability efforts in the UK. The Digital Pound Foundation explores the role of digital currency in promoting eco-conscious practices, including supporting the circular economy, efficient resource usage, and streamlining grant disbursements. Learn how technologies like blockchain, IoT, and smart contracts can integrate with a digital Pound to drive environmental and financial benefits for individuals and businesses. Explore key use cases and innovative solutions that a digital Pound offers for a sustainable future.

Learn how the Digital Pound can revolutionize car purchases by integrating NFTs and smart contracts. This article from the Digital Pound Foundation explores how digital money can enhance transparency, security, and efficiency in car transactions. Discover how tokenization, smart contracts, and programmable payments can streamline processes from purchasing and financing to servicing and resale, providing benefits such as real-time settlement, secure ownership transfer, and automated warranty claims.

Understand the need for a digital Pound through this insightful article from the Digital Pound Foundation. It discusses the role of Central Bank Digital Currencies (CBDCs) in providing a secure, digital alternative to physical cash, addressing challenges in public trust, privacy, and financial stability. The article highlights the importance of public education and collaboration among stakeholders to ensure a smooth transition and widespread adoption. Explore the potential use cases and benefits of a digital Pound in modernising the UK’s financial landscape.

From peer-to-peer lending and programmable payments to financial inclusion and micropayments, a digital Pound can revolutionise everyday transactions. The article delves into the benefits of digital money underpinned by DLT infrastructure, addressing challenges related to government control and privacy while highlighting opportunities for efficiency, cost savings, and innovative business models.

This article emphasises the need for efficient digital onboarding for regulated digital cash, balancing AML measures with ease of use to ensure adoption and financial inclusion, particularly for a potential digital Pound.

Central Bank Digital Currencies (CBDCs) raise significant privacy concerns as they could allow for extensive tracking of transactions by governments and other entities, unlike physical cash which offers anonymity. Balancing privacy and regulatory requirements is crucial for user adoption and trust in CBDCs.

The collapse of Terra Luna highlights the risks of algorithmic stablecoins, underscoring the need for robust regulation to ensure stability and consumer protection in the digital currency space.

Digital currencies, including CBDCs, can potentially end financial exclusion by providing accessible payment solutions without a bank account, enabling low-cost cross-border remittances, and fostering financial inclusion through innovative digital identity systems.

Firms that use blockchain databases need simple, clear ways to assure customers that they can control their personal data and that it will always be protected in accordance with GDPR. A new generation of permissioned DLT holds promise to not only support data security but also to meet users’ need to control their data in compliance with GDPR and other regulatory requirements.