The BoE is currently conducting experiments and proofs of concept as part of the design phase towards a possible digital pound. It has looked at the technical feasibility of using existing POS hardware to initiate digital pound payments. It found that, in principle, existing terminals could be used with no need for modification, at least for online payments. However, the experiment did not test operational, legal and commercial considerations that would all need to be assessed in due course.
BoE publishes digital pound proof of concept
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