Publish: 14.01.2018

Bank of England May Create Its Own Crypto Currency

“The underlying technology is actually of a fair bit of interest,” he said. “We are working with it at the Bank of England”.

Governments around the world have been studying the proliferation and adoption of crypto currencies with great interest. Now, representatives at the Bank of England have stated they are actively considering launching their own crypto currency in the near future.

Speaking to a UK Treasury Select committee, Bank of England Governor Mark Carney admitted that the public interest and potential uses of the technology have been under investigation by the UK government for some time now.

“The underlying technology is actually of a fair bit of interest,” he said. “We are working with it at the Bank of England”.

Bitcoin Already Integrated To Bank Of England

Even before this announcement, the UK government had shown itself to be one of the more forward-thinking entities on crypto currencies generally. Although no specific timetable has been set for this new project, the Bank of England already has a history with Bitcoin.

Just last summer, the Bank of England reportedly began looking into the potential uses of the crypto currency at the national and international level. The Bank has even begun experimenting with the use of blockchain payments between central banks themselves.

That’s a bit of an ironic twist that isn’t being lost on crypto enthusiasts who would like to see more ‘mainstream’ uses of crypto moving into the future.

Government Issued Crypto: Promises & Perils For Online Casino Players

Crypto enthusiasts in the online casino community generally fall into two camps. On the one hand are those who believe that increasing mainstream adoption — especially by governments — is harmful to he overall project. They look on with increasing warmness as more and more ‘official’ state interests wiggles its way into more and more aspects of digital currency.

However, the other camp — those who appreciate the huge convenience aspects which digital money can offer players — are increasingly excited about the new possibilities of ‘state run’ digital money.

Would online casino players benefit from a government run crypto currency? Everyone will have to decide for themselves which side of this divide they fall on. But one thing is for sure, there’s little doubt that they will be an increasing presence in the lives of all players in the coming years.