Ripple, The central bank of the United Kingdom announced that it was joining the Digital Pound Foundation on behalf of digital currency studies. Ripple will be represented on the board of directors by Susan Friedman, Head of Policy.
Ripple Becomes a Member of the Digital Pound Foundation
Ripple’s participation in the Digital Pound Foundation, central bank digital currencies (CBDC) it will provide a global study of technical and policy issues related to. The Ripple side stated that it believes that the UK is at the forefront of promoting responsible innovation and growth in the field of crypto assets. Susan Friedman evaluated the new step as follows:
We are excited to support the design and implementation of a Digital Pound in partnership with the Digital Pound Foundation. The Foundation will make a major contribution to furthering the UK’s goal of building a more inclusive and sustainable financial system.
The Digital Pound Foundation, Believes that the Digital Pound will support the UK’s transition to an innovative digital economy and society. However, a CBDC implementation will cement the UK’s place in the emerging global digital environment.
Defining the future of money, today more than 80% of central banks, CBDChe is actively exploring some kind of state-sponsored crypto-currency apra, including The Bank of England will be able to play an important role in expanding access to central bank money by citizens and businesses, as well as The Digital Poundhe is actively working to overcome the practical and technological difficulties of designing, implementing and operating‘
Bank of England, CBDC Work Continues at the Latest Pace
The Bank of England has seen that the evolving digital payment environment carries the potential for fast, cheap, sustainable and efficient payments with more functionality. However, in order to reach the full potential of digital payments, he decided on the need for cooperation with various actors. What the Digital Pound Foundation is aiming for is exactly what is mentioned here.
The Digital Pound Foundation DEC brings together a wide range of members to ensure that the UK continues to lead the global competition in financial innovation.