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> What I'm hoping comes out of this is some backstop for the ~4 million Brits with no bank account in our increasingly cashless society. That's the intention y
by Neil44 4y ago
> What I'm hoping comes out of this is some backstop for the ~4 million Brits with no bank account in our increasingly cashless society.
That's the intention yes
> Also worth pointing out that the Pound (like every major fiat currency) is already digital: my bank account is stored in a computer, my payments are all electronic. Sure we still have paper notes but banks aren't backing their deposits with a big stack of those in a vault anywhere.
They are drawing a distinction between private money - issued by banks which may or may not like you - and public money £20 on paper which anyone can hold. Digital pound = public money.
- onlyrealcuzzo 4y ago> They are drawing a distinction between private money - issued by banks which may or may not like you - and public money £20 on paper which anyone can hold. Digital pound = public money. What happens when it becomes popular for the government not to like you because X is in vogue?
- throwaway98797 4y agoi worry more about innocent mistakes the thought of being unable to transact at all because of some glitch, even if it’s rare that’s no good
- Neil44 4y agoYeah even if the rules are in place now. Down the line - trending on twitter @ someone up for reelection - joe blogs did X why are you supporting him by allowing him to continue using digital cash?