Current，Digital currencies are becoming the focus of global financial change，The major central banks around the world are actively exploring digital currency development。In the accelerated development of international digital finance and has a huge impact environment for the traditional financial pattern，Electronic currency (CBDC) issued by central banks issued by central banks in various countries to seize digital currency system，To accelerate the circulation of domestic and foreign digital currencies at home and abroad、Stable Financial Market、It is important to enhance the status and competitiveness of the sovereign currency in the international financial system。In recent years，The United Kingdom is committed to digital currency development research and exploration，Industry has made certain progress，but also facing a lot of difficulties。Examination of its basic approach has important reference for promoting the use of international digital currency development。

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The main purpose of developing digital currencies in the UK is to meet the needs of digital development of economic digitalization，Build a more convenient digital environment。

The current British domestic economy is facing digital challenges。On the one hand, people's ways to obtain electronic currencies are more convenient，On the other hand, the low cost and efficiency of e -commerce is constantly stimulating the needs of the people，Therefore, the cash usage currently used in the UK for transaction purposes is declining，and the usage rate of electronic money continues to rise。At the same time，Many new business models are emerging，Their further development depends on the widespread application of digital currencies。bet365 best casino games In this case, the development of digital currencies will actively promote domestic economic development and financial currency stability。In the current international environment，To consolidate its world leading position in the field of financial services，It is necessary to guide and support the domestic digital economy transformation，Invest in the global digital currency research boom。other，The large -scale adoption of digital currency and interoperability between different digital currencies requires close cooperation between government agencies in the world and global super national institutions。

According to the recent survey of the Bank of England,，70%of the respondents said that cash was reduced before the epidemic was used，without contact payment and online transaction volume greatly increased。A well -designed digital currency system may bring Britain into the digital era，Let the British people active participants in the digital economy，It helps to promote the large -scale use of digital platforms and the continuous growth of platform capabilities，Strengthen payment security，Stable Financial Market。British Minister of Finance Rich Sunak believes that the issuance of the numeric pound will better help Britain to respond to the challenges brought by cryptocurrencies such as Bitcoin，Greed up the central bank's funding channel，Accelerate the speed of payment at home and abroad，Reduce financial risks。The powerful driving force behind the introduction of digital currency in the UK is the global currency system and its innovation in its financial and payment ecosystems and the challenges brought by it。The emergence of new currency forms will promote economic inclusiveness to a greater extent，To better improve the existing payment system。

　　Digital currency research and development has made positive progress

Current，The R & D and application of British digital currency has achieved bet365 live casino games certain results，Its main measures include the following four aspects。

First，Carry out preliminary research。As early as 2016，The British government released a research report on distributed ledger technology (DLT) led by the chief scientific consultant。Research on distributed ledger technology as the underlying logic of digital currency "decentralization"，It is important to the development of British digital currency。2019，The British Financial Behavior Regulatory Administration issued a consultation document for the "Crypto Monetary Assets Guidelines"，Formulated a regulatory framework for the cryptocurrency market。The Ministry of Finance of the United Kingdom in 2020 will set up a new regulatory agency for stable currency and other digital currencies，At the same time, it is said that it is promoting a plan to use digital currency as a payment method。Digital currency research report released by the Bank of England in 2020 analyzes the challenges and risks of introducing digital currencies，and facing the payment industry、Academic and related interest groups solicit opinions and feedback。

2，Establish a special working group for digital currency development。The Bank of England announced on April 20, 2021，The British Ministry of Finance will establish a special work team of the Central Bank of the Central Bank，Explore the numeric pound with joint coordination，Accelerate Digital Pin Plan。The establishment of a special working group is conducive to relevant departments to adopt a strategic policy，and promote the close cooperation between the Ministry of Finance and the central bank。The Central Bank also established two external participating groups at the same time，Among them, the "Digital Currency Participation Forum" will be by financial institutions、Business users、Composition of private social groups and consumers，Coordinating all the strategic goals of all digital currency bet365 live casino games non -technical aspects，Considering the functional requirements of digital currency、Public and private departments' characters in bet365 best casino games Digital currency systems and data and privacy problems。"Digital Currency Technology Forum" will absorb fintech companies、Academic circles and infrastructure providers participating，Application of professional knowledge in different fields to explore issues on all technologies of digital currency。

Third，Provide financial support。The Bank of England has provided a variety of payment models to support the payment system to settle with the central bank's digital currency。Based on this，For the work of cooperating with the special working group，The Bank of England has developed a new type of account。In the new mode，The operator of the payment system can hold funds in a comprehensive account，Use the funds of the central bank to provide participants with fund settlement。This allows operators to provide innovative payment services，Enjoy the security guarantee of the central bank's currency settlement。They can support a wide range of high value payment，From commercial banks purchased by government bonds to small businesses paid by suppliers。

Fourth，Carry out international cooperation。With the support of the Bank of England, the Bank of England，and the Bank of Canada、Swedish Central Bank、Bank of Japan、Swiss Central Bank、European Central Bank and other central banks to form a joint digital currency joint research team，Share the experience of digital currency development in the jurisdiction of the country。This group will evaluate the central bank's digital currency application scenario，Economy、Function and technical design and interoperability experience sharing。It will cooperate closely with relevant institutions and forums such as the Financial Stability Committee and the Payment of Payment and the Market Infrastructure Committee。

　　Digital currency applications face multiple challenges

bet365 best casino games The research and development and application of digital currency needs to have a complete external environment，and formulate strict legal specifications。So，There are many problems in the process of promoting digital currencies。

First, the launch of the digital currency environment is not good。Some experts point out，The UK does not have favorable conditions for issuing digital currencies like China and other countries。More than 80%of China's transactions are completed by electronic payment，and British consumers may not accept large -scale electronic wallets in a short time。The Bank of England needs more support and trust from the public under the premise of technology maturity，Waiting for the right distribution and use time。other，Accelerate with the implementation of the digital currency，Many stakeholders still have a lot of misunderstandings about the basic principles of digital currencies。At the same time，The current payment system in the UK is undergoing an important turning point，A series of strategic projects，Such as the new payment architecture and the new payment settlement system RTGS2, etc.。These projects did not include the development of digital currencies into the running framework。So，Digital currency once issued，will bring challenges such as collaborative matching to the development of these projects。

Second, it is difficult to protect privacy problems。Privacy issues and how to reduce fraud and anti -money laundering while protecting privacy，It is an important consideration for the British to promote digital currency。The United Kingdom has always been a country that attaches great importance to personal privacy。Promoting the success of digital currencies to a large extent depends on whether the digital pound can fully protect the privacy of consumers。where，Prevention of illegal behavior such as data privacy and leaks must be considered at the same time。At present, the relevant parties have not yet reached a consensus on this issue。bet365 best casino games Digital currency systems that trades point -point transactions of non -intermediary points do not meet the requirements of regulatory agencies，However, a complete tracking system that fully identified each transaction is also unrealistic。Relevant British government departments are exploring valid schemes，If you realize data privacy, you can allow consumers to "extract" digital currencies for anonymous consumption on equipment or wallets，If you set a special threshold，Transactions higher than a threshold may receive a higher degree of privacy protection。

Third is to strengthen legal guarantee for any way far。With the rise of the new business model，Private cryptocurrencies are circulating in the digital market。Their use will not affect the stability of the British financial market at present，But to the government、There is a high risk of enterprises and individual investors。Lack of effective supervision leads to fraud in the use of cryptocurrencies、Money laundering、Crime problems such as terrorism frequently breed。In view of this，Digital pound as a legal digital currency issued by the Bank of England，Fully consider how to avoid risks reasonably for consumers，Rigid and authoritative laws and regulations supervision，The security of the large -scale use of digital currencies in a comprehensive improvement，It is an important problem that needs to be solved。

The British government promises the people，Cash will not be completely replaced by digital currencies。Digital currencies are likely to need to coexist with cash and other trusted private currencies for a long time，So as to strive for sufficient time to expand the impact and utilization rate of digital currency。In addition, the public department also needs to work closely with the private sector，To increase the innovation of currency payment、Efficiency and risk management ability, etc.，These have greatly increased the complexity and difficulty of digital currency development and bet365 live casino games market operation。What are the prospects of the development and launch of digital currency development and launch of the Central Bank of the United Kingdom，It still needs to be studied in depth of all parties。

(Author Unit: School of Foreign Languages ​​from South China University of Technology)