Bank of England: Private companies may play a role in CBDC issuance

The Bank of England (BoE) is open to the possibility that private cryptocurrencies may play a role in the future of the currency. In a webinar held on Tuesday, Bank of England analyst Ben Dyson, working on the Bank of England Digital Currency (CBDC) program, said that private companies are likely to play a greater role in currency issuance and distribution. Dyson said that last year he had seen proposals from large technology companies regarding the establishment of payment systems and crypto assets that can function more steadily. Dyson said that although they may bring new risks to the currency system, if private currency provides real utility, it can work with any future CBDC plan.