The Bank of England released a digital pound consultation document and a technical working paper, exploring various possibilities

The Bank of England (BoE) and HM Treasury have released a digital pound consultation paper, which will engage with stakeholders across the UK to seek input on the proposed digital pound model. In addition, the Bank of England has also released a digital pound technical working paper. The bank estimates that a viable central bank digital currency (CBDC) system may need to achieve about 30,000 transactions per second, and the demand may also increase. Performance for 100,000 transactions. However, the Bank of England stated that it has not yet decided whether to introduce a digital pound and is still exploring various possibilities. In addition, if the user uses the digital pound, the Bank of England and the government will not collect any personal data, and will not be able to see your spending, and the user will access the digital pound through a virtual wallet. Plus, neither the BoE nor the government can program users’ digital pounds or limit how they can be spent.