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Why Britcoin would be taking a liberty

Bank of England's plans for a digital currency would overlap with commercial banks and give it new access to personal data. Private digital currencies have failed to replace fiat money in everyday transactions and have coincidentally collapsed by two-thirds in value.

  • Bank of England's plans for a digital currency would overlap with commercial banks and give it new access to personal data.
  • The central bank anticipates overlapping with commercial banks in some key activities while gaining sweeping new access to personal financial data.
  • The set-up would be something like this: BoE would establish a central ledger to record each person's fluctuating ownership of digital pounds.
  • Private digital currencies have failed to replace fiat money in everyday transactions and have coincidentally collapsed by two-thirds in value.
  • Nation states have access to a simple solution to private digital currencies: prohibition.
Why Britcoin would be taking a liberty
Bank of England’s plans for a digital currency would overlap with commercial banks and give it new access to personal data

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