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A comment on Bank of England to explore a potential Central Bank Digital Currency. Parent comment

Re:Bank of England to explore a potential Central Bank Digit... by mytailorisrich on Monday April 19, 2021 @09:53AM (#26862759)
Guys, please try to read about "digital currency" before writing snarky replies and downvoting.

Currency is currently not digital in the sense meant here. Otherwise the BoE and other central banks would not discuss the possibility of issuing digital currency. It's rather the banks' ledgers and transfer instructions that are digital.

In my previous comment I have only tried to explain what CBDC is. Perhaps I did not do a good job if so please feel free to provide a better explanation that would benefit everyone.

> "currency isn't digital because it's not this token

I have not written that, so I think you do not understand the topic. Here for reference to start with:

https://en.wikipedia.org/wiki/Central_bank_digital_currency

[ Parent | on HN ]
Re:Bank of England to explore a potential Central Bank Digit... by iudqnolq on Monday April 19, 2021 @12:29PM (#26864626)
> Currency is currently not digital in the sense meant here. Otherwise the BoE and other central banks would not discuss the possibility of issuing digital currency.

The alternative is of course that it's all meaningless hype. Just because the government does something doesn't necessarily prove it makes sense.

[ Parent | on HN ]
Re:Bank of England to explore a potential Central Bank Digit... by SideburnsOfDoom on Monday April 19, 2021 @12:50PM (#26864912)
From a government point of view, a "Taskforce to coordinate the exploration of a potential ..." (quoting from the article) often makes sense, and doesn't necessarily result in anything much resembling action. See also "kicking it into the long grass".
[ Parent | on HN ]
Re:Bank of England to explore a potential Central Bank Digit... by KaiserPro on Monday April 19, 2021 @11:31AM (#26863869)
Sorry I had confused your statement to mean shipping physical currency about.

your clarifications were helpful

[ Parent | on HN ]
Re:Bank of England to explore a potential Central Bank Digit... by SideburnsOfDoom on Monday April 19, 2021 @10:05AM (#26862883)
Your statement was "Currency is not digital." - digital, full stop. Which is a nonsense. The word "digital" is well-defined.

It seems that you're now saying that "BoE Currency is not digital currency." with a specific meaning of "digital currency" separate from the definition of "digital" or "currency".

[ Parent | on HN ]