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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.

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  • I've tried to find out what this would mean and it appears that it would change the payments system to be immediate - at the moment if you make a card payment it takes a couple of days to go through the banking system. Also the charges for taking card payments made to businesses are a burden for small traders, and I believe that digital payments would be free. It would work on the principle of a digital wallet, but I'm not sure if you would have to use a smartphone for that or if you could still use a chip & pin card. My preference would be to still use a card. 

    Does anyone know if what I think is correct? Also does anyone know if money in a digital wallet is separate funds to your bank account, like cash?

  • in reply to Lotus

    I don’t know much about digital currency but in the past I have used Revolut Banking for foreign travel and I had several different wallets with euros, pounds, dollars etc within the one app. I can’t remember if the card was only for the sterling account or not. There was also a facility to buy crypto currency, so I bought a tiny amount of about two pounds worth because I was curious. It devalued fairly quickly. 


    I now use Chase banking for day to day spending and foreign travel and my card payments go through immediately. Other banks such as First Direct have a delay. I don’t know if crypto will free up charges and delays or not. Sorry about all the don’t knows.

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  • in reply to Lotus

    I don’t know much about digital currency but in the past I have used Revolut Banking for foreign travel and I had several different wallets with euros, pounds, dollars etc within the one app. I can’t remember if the card was only for the sterling account or not. There was also a facility to buy crypto currency, so I bought a tiny amount of about two pounds worth because I was curious. It devalued fairly quickly. 


    I now use Chase banking for day to day spending and foreign travel and my card payments go through immediately. Other banks such as First Direct have a delay. I don’t know if crypto will free up charges and delays or not. Sorry about all the don’t knows.

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