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.
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.
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.
I'm glad that other forms of payment will continue for the forseeable future.
The government don't seem to be talking amongst themselves:
https://www.bbc.com/news/articles/c20gevkx8gyo
Some countries, such as Australia, are planning rules that would force essential services to accept cash.
But Ms Reynolds (the new economic secretary to the Treasury) effectively ruled out such a move in the UK.
It sounds like they are leaving it up to individual businesses on whether to continue allowing cash to be used and given the pain it is to have to handle cash as a business (carrying change, forged notes, time to take it to the bank, robberies etc) I can see why they are doing this.
Reading between the lines it looks like they are saying they will keep it but just leave it up to the businesses as to whether they want to use it as a means of payment.
The elderly and disabled do not seem to be groups the government (of either flavour) are going out of they way to protect (think benefits cuts, attacks on pensions, winter fuel payments etc) and it is these groups most likely to suffer.
You may not like it or want to do it but there is a lot to be gained by learning how to do it. It is of course your choice not to get a smart phone (they are very affordable now) and learn to do the basics on it for payments (you are clearly intelligent so I'm sure you could learn how to use it with some help).
It is all a matter of choice - but choices have consequences.
I've tried for years to get to grips with tech, people have tried to teach me and then given up and gone off in a huff, because something random and unexpected has happened, this has been both friends trying to informally help me to teachers. There's a woman in the library who's job it is to teach peope about tech and she's the ASC unfriendly person I've come across in a long time.
When I was at uni and got a special needs equipment package, it included a laptop and a guy to come and teach me how to use it. The first thing he did when he came round for the first lesson was to tell me how disapointed he was that I'd got a laptop instead of a desk top and how I should of spoken to him before getting a computer, despite this never being an option and how difficult it would all be. He had me doing things I already knew, things I didn't need to know, but wouldn't teach me to do the things I did need to know, like how to insert quotation accreditations, things that my lecturers were asking me to do and were affecting my marks. He told me those things would come months later in his teaching program, a friend had the same guy for the same reasons and found him equally unhelpful over script writing software. We both dispensed with his services after a few weeks.
It's very disheartening when people laugh at me, or insist that I'm doing stuff on purpose or just refusing to learn and it's counterproductive in my efforts to learn as I don't feel heard or understood. You might have been teaching people to use tech for years, but you are not physically here to teach me, are you, so your input from afar is mearly adding to my feelings of not being heard or understood and increasing technophobia. Over the years I've become scared of touching stuff in case it goes wrong, 'here press a few buttons, nothing can go wrong' said an ex handing me a digital egg timer, so I did press a few buttons and it crashed, had to have its batteries taken out and put back in again. Needless to say, he never tried to teach me anything techy again, just complained about my lack of knowledge and got a bit nasty about it. When you've had 30 years or more of this sort of attitude, being ridiculed, laughed at, told off, being on the recieving end of other peoples frustration, disbelief and anger, I suspect you'd become wary and a bit fearful too.
I've tried for years to get to grips with tech, people have tried to teach me and then given up and gone off in a huff, because something random and unexpected has happened, this has been both friends trying to informally help me to teachers. There's a woman in the library who's job it is to teach peope about tech and she's the ASC unfriendly person I've come across in a long time.
When I was at uni and got a special needs equipment package, it included a laptop and a guy to come and teach me how to use it. The first thing he did when he came round for the first lesson was to tell me how disapointed he was that I'd got a laptop instead of a desk top and how I should of spoken to him before getting a computer, despite this never being an option and how difficult it would all be. He had me doing things I already knew, things I didn't need to know, but wouldn't teach me to do the things I did need to know, like how to insert quotation accreditations, things that my lecturers were asking me to do and were affecting my marks. He told me those things would come months later in his teaching program, a friend had the same guy for the same reasons and found him equally unhelpful over script writing software. We both dispensed with his services after a few weeks.
It's very disheartening when people laugh at me, or insist that I'm doing stuff on purpose or just refusing to learn and it's counterproductive in my efforts to learn as I don't feel heard or understood. You might have been teaching people to use tech for years, but you are not physically here to teach me, are you, so your input from afar is mearly adding to my feelings of not being heard or understood and increasing technophobia. Over the years I've become scared of touching stuff in case it goes wrong, 'here press a few buttons, nothing can go wrong' said an ex handing me a digital egg timer, so I did press a few buttons and it crashed, had to have its batteries taken out and put back in again. Needless to say, he never tried to teach me anything techy again, just complained about my lack of knowledge and got a bit nasty about it. When you've had 30 years or more of this sort of attitude, being ridiculed, laughed at, told off, being on the recieving end of other peoples frustration, disbelief and anger, I suspect you'd become wary and a bit fearful too.