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BoE publishes digital pound report and design note

The BoE has published an experiment report on whether it is feasible to implement an offline payment functionality for a digital pound.

The report concluded that while it might be technically possible to introduce such an offline functionality, there would be trade-offs that would make implementation challenging, especially around user experience and issues in preventing double spending and counterfeiting.

The report considered offline payments technology, but noted that other policy, operational, legal and commercial factors would need to be explored before design decisions are made.

The BoE has also published a design note on potential digital pound intermediary roles, and a preliminary conceptual framework for a digital pound rulebook.

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