Bank Of England Explores A Digital Currency

Plus a new all time high for bitcoin mining difficulty

Happy Monday, Blockfolians

The Lede

We are looking at the question of, should we create a Bank of England digital currency. We'll go on looking at it, as it does have huge implications on the nature of payments and society.

That’s a quote from new Bank of England governor Andrew Bailey during a student seminar on Monday, as quoted by Bloomberg.

Andrew Bailey

Bank of England governors have a somewhat confused relationship with the digital currency space. On the one hand, former governor Mark Carney has at times proposed some relatively radical ideas about the future of “synthetic hegemonic currencies.”

On the other hand, there is this:

What’s clear is that there is a growing pressure on all central banks to have a clear digital currency strategy. That will inevitably bring more attention - not to mention talent - to the space.

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Community Commentary

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That’s the size of the new raise from Robinhood at a reported $8.6m valuation. Yowza.

Final Thought

Congrats, Pomp!