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Bank of England official says digital pound provides big opportunity for businesses

Bank of England official says digital pound provides big opportunity for businesses

Earlier on Feb. 7, the Bank of England and the U.K. Treasury announced plans to explore potential use cases of a digital pound- a government-backed alternative to Bitcoin that will be developed on a private blockchain.

The digital pound will provide a faster alternative to online payment, provide lower settlement costs to businesses, and help protect the financial stability of the pound.

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