Bank of England beefs up plans for digital ‘Britcoin’ currency

The Bank of England is ramping up plans for a “Britcoin” digital currency by hiring a workforce of up to 30 people to develop the project.The Bank announced in

Highlights

• Bank of England ramping up plans for a ‘Britcoin’ digital currency.
• Bank announced in February that a scheme for a new ‘digital pound’ would enter the design phase.
• It is now seeking engineers to lead the project, including a “digital pound solution architect’s” and “security architect” Both roles will pay up to £80,000.
• Britcoin, championed by Rishi Sunak when he was chancellor, could cut the middleman out of electronic payments.
• The currency is expected to be in circulation by the end of the decade, the Bank said in February this year.

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