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It's Happening

Desmond1979

Sir Kier Fuerher said, at Davos, that the Bank of England will adopt Digital Currency.

I warned you guys what would happen, under his guise, yet was dismissed.

People are too easily influenced.

Parents

  • For reassurance on the current cash status quo:

    The Financial Conduct Authority is an independent public body funded by levies from regulated firms. It is accountable to the Treasury but is not controlled by them or by government.

    FCA have clearly stated they are committed to ensuring people retain access to cash. The latest rules are explained here: www.fca.org.uk/.../access-to-cash

    These rules only came into force last year.

    As Iain points out the Bank of England have also issued a clarifying statement on digital currency.

    Given multiple IT issues and outages in recent years, increased concern over cyber attacks and the continued reliance on cash by a small but significant % of the population (6% of the general population and 9% of vulnerable people) it's safe to say that cash will be around for many many years to come.

    What happens in the more distant future is unknowable. Potentially cash will eventually be phased out. Potentially it will be with us forever.

Reply

  • For reassurance on the current cash status quo:

    The Financial Conduct Authority is an independent public body funded by levies from regulated firms. It is accountable to the Treasury but is not controlled by them or by government.

    FCA have clearly stated they are committed to ensuring people retain access to cash. The latest rules are explained here: www.fca.org.uk/.../access-to-cash

    These rules only came into force last year.

    As Iain points out the Bank of England have also issued a clarifying statement on digital currency.

    Given multiple IT issues and outages in recent years, increased concern over cyber attacks and the continued reliance on cash by a small but significant % of the population (6% of the general population and 9% of vulnerable people) it's safe to say that cash will be around for many many years to come.

    What happens in the more distant future is unknowable. Potentially cash will eventually be phased out. Potentially it will be with us forever.

Children
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