Honestly, I posted this because I cannot find any detailed articles about it, and was hoping SOMEONE on HN might have more information they could comment.

The article links out to BoE's own paper.

https://assets.publishing.service.gov.uk/government/uploads/...

They don't bother explaining that it is a CBDC (Central Bank Digital Currency) which is essentially just a ledger built on a blockchain but fully centralized. So instead of using some independent bank's ledger which settles with other banks or gives out cash you have a single system with complete oversight. This is only useful if it eventually replaces the other options. My question is, if there are balance limits from the beginning causing overages to be "swept" out of the system and into a bank account, what happens when there's no longer an external bank account to sweep the funds into?

Individuals cannot hold DCBC assets except through a commercial bank. For the cash sweep the commercial bank could mail you a check? Or hold cash in a simple escrow account?

Thanks so much for this!