Bank of England Collaborates with MIT on CBDC Research Project

The Bank of England (BoE) has signed an agreement with the Massachusetts Institute of Technology (MIT) Media Lab Digital Currency Initiative to collaborate on a twelve-month research project on Central Bank Digital Currency (CBDC). For Research Purpose Only According to a statement by the Bank of England (BoE), the new project was for research purposes only, and not intended to develop an operational CBDC. “No decision has been made on whether to introduce a CBDC in the UK, which would be a major national infrastructure project. Undertaking this type of technical research will help inform wider policy thinking around CBDC. The Bank will provide an update on the findings and outcomes at the end of this period of research,” the announcement release stated. The Bank of England and the Massachusetts Institute of Technology (MIT) have agreed to collaborate on a twelve-month research project on Central Bank Digital Currency (CBDC): https://t.co/l8MWRjEiQF…#DigitalPound #CBDC #Crypto pic.twitter.com/TuZ1OTDRwL — Digital Pound Foundation (@digitalpoundfdn) March 25, 2022 The Bank of England joins the U.S. Federal Reserve and the Bank of Canada as CBDC research partners at MIT. For instance, the Canadian central bank announced its year-long joint research effort last week, while the Boston Fed kicked off its collaboration with MIT in 2020. Currently, CBDCs are being researched in around 60 nations, with about 15 pilot projects active, ...