It's Happening

They have an article on the BoE website about it:

https://www.bankofengland.co.uk/report/2025/digital-pound-progress-update%20

The Bank and HM Treasury are exploring the possibility of a digital pound – a digital complement to banknotes.

...

No decision has been made on whether to proceed with a digital pound.

I'm guessing that Trumps statement about his support of digital currencies is behind the push to this so the UK is not left behind.

It is going to happen so like online banking it will be better to get onboard or risk being left with limited functionality.

The age of physical cash in fading out fast. I cannot remember the last time I paid for anything with banknotes - it must have been months ago and I spend a LOT with the property renovations work I do.

All my workers are paid electronically, all suppliers and all property purchases / sales so the banks already have full visibility of everything in my finances.

Resisting is only likely to cause me pain so if I want to do anything naughty that involves payment then I need to use crypto currency although that is looking less secure as time goes on. Maybe I shouldn't do anything naughty then.

They have an article on the BoE website about it:

https://www.bankofengland.co.uk/report/2025/digital-pound-progress-update%20

The Bank and HM Treasury are exploring the possibility of a digital pound – a digital complement to banknotes.

...

No decision has been made on whether to proceed with a digital pound.

I'm guessing that Trumps statement about his support of digital currencies is behind the push to this so the UK is not left behind.

It is going to happen so like online banking it will be better to get onboard or risk being left with limited functionality.

The age of physical cash in fading out fast. I cannot remember the last time I paid for anything with banknotes - it must have been months ago and I spend a LOT with the property renovations work I do.

All my workers are paid electronically, all suppliers and all property purchases / sales so the banks already have full visibility of everything in my finances.

Resisting is only likely to cause me pain so if I want to do anything naughty that involves payment then I need to use crypto currency although that is looking less secure as time goes on. Maybe I shouldn't do anything naughty then.

Hopefully, I'll be dead before anything like this happens, being someone who can't work a smart phone, I'm glad that other forms of payment will continue for the forseeable future. I think as more and more stuff is online then digital curency is inevitable. I'm sure people felt equally worried at the idea of paper money, promisory notes and coins with a set value that had nothing to do with thier metal value. Whilst some of us might be glad to go back to the days of hack silver and cutting bits off coins for change, I'm glad everybody agrees whats whats when it comes to money or we'd have chaos.