Coinspeaker
Britcoin’s Launch Nears after Project Rosalind CBDC Study
As the idea of making cash more decentralized continues to grow in popularity, the CBDC has also been an up-and-coming project in different countries. Britcoin, the name for the Bank of England (BoE) digital currency, is also closer to being launched.
The digital currency, which is to be backed by the British Pound, is aimed at sustaining the trust people have in money while protecting the country’s financial system from high-profile crashes and exposure to scams, which many volatile digital currencies have had to deal with.
CBDC has been the subject of the ongoing Project Rosalind, which is part of the move to test the best way an Application Programming Interface (API) could be implemented in CBDC for retail transactions. The study started in 2022 and is being controlled by the Bank for International Settlements (BIS) and the Bank of England.
Results from Project Rosalind CBDC Study
According to a report publis
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