I knew it would have to be somewhere... https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-consultation-working-paper.pdf https://w

I knew it would have to be somewhere... https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-consultation-working-paper.pdf https://www.bankofengland.co.uk/-/media/boe/files/paper/2023... Blockchain technology, which underpins many cryptoassets (for example Bitcoin) also represents a major innovation. This introduced digital assets supported and distributed in a peer-to-peer fashion, backed by cryptography alone and stored on an immutable distributed ledger. Smart contracts automate business logic based on pre-determined terms and conditions. The concept pre-dates the emergence of Blockchain and is not exclusive to any specific technology, but their use has been popularised recently by permissionless blockchain technologies such as Ethereum. Developments in smart contracts have led a trend towards 24/7, ‘always on’, automated markets and products, and a wider world of decentralised finance, or ‘DeFi’. DeFi applications use a combination of these technologies, including blockchain and smart contracts, to enable users to buy, swap... Fortunately the accompanying technical note doesn't talk about it too much. https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-technology-working-paper.pdf https://www.bankofengland.co.uk/-/media/boe/files/paper/2023...