trade now
Central Bank Digital CurrenciesCrypto BankingCryptocurrencyCryptocurrency RegulationCryptocurrency TrendsNewsRipple (XRP)StablecoinTaxes

Ripple to Host a Panel Discussion On Digital Pound; Here’s What’s Known

Ripple is hosting a panel discussion on the digital pound, the digital version of the British pound, and the effects it could have on the economy. 

The panel, which is set to take place in January will feature experts from the financial industry, government, and technology sector.

Panel Discussion on the Digital Pound

The initiative of a central bank digital currency (CBDC), has been attracting attention in recent years.

Governments around the world are now looking into the benefits of having their own digital currency. The Bank of England has also been working on a digital pound.  

This panel discussion would focus on the potential benefits of CBDC to the economy. Experts who have once had encounters with CBDC and stablecoins will speak up on specific arrears in which these digital forms of currency are effective and irresistible.

However, Ripple’s role in this panel discussion is not quite known.

The Managing Director at Ripple stated that it is not possible for the company to solve every CBDC related issue in all countries, so they are taking a strategic approach. 

📰  CFTC Files Fraud Charges Against Mango Markets Attacker

This approach is targeted at locating smaller central banks looking for help and partnership on how to go about this concept.

Benefits and Pitfalls of CBDCs

A major benefit of a CBDC is an increase in financial inclusion. CBDCs could ensure access to banking services for those who currently lack banking access.

A digital pound could also contribute to the efficiency of financial transactions, and reduce their costs. Another benefit is the increased security it could provide. 

Digital currencies are less prone to fraud and counterfeiting, which are ongoing issues with physical cash. 

A digital pound makes it very effective for the government to trace and prevent illegal activities such as money laundering and tax evasion.

However, there are also challenges that need to be addressed before a digital pound can become a reality. 

One of the main concerns is the potential for a digital currency to disrupt the existing financial system, and cause unemployment. 

There are also privacy and security concerns, as operating in CBDC’s involve storing personal data of individuals.  

📰  Hackers Drain $3.5M From Bitcoin Core Developer

Despite these challenges, the panel will likely address both the benefits and pitfalls of a digital pound in depth and provide valuable insights into the future of money and the economy. 

Experts in the related field will be in attendance, including representatives from the Bank of England, Ripple, and other financial institutions.


Tokenhell.com produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: info@tokenhell.com. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  Nepal Enforces Crypto Crackdown By Ordering ISPs To Block Crypto Transactions

📰  Celsius To Retrieve And Store 20,000 Mining Rigs From Bankrupt Core Scientific

Jimmy Kelly

Jimmy is one of the news journalists for Tokenhell. He is a big crypto enthusiast and bought his first crypto token way back in 2015! Jimmy publishes updates about crypto tokens, events, price analysis and regulation among many other subjects.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content