UK Considering Digital Version of Pound ‘Britcoin’, Won’t Fluctuate in Value Like Crypto

UK authorities are considering a digital version of the Pound that would be backed by the Bank of England and retain its value over-time, unlike the fluctuating value of cryptocurrency. The ‘Britcoin’ would be central bank digital currency (CBDC) and would be held in a digital wallet. The digital currency could be used to pay for goods and services electronically.