With the increasing global demand for flexible and ‘border-less’ payment systems, the UK’s growing FinTech sector is well placed for growth and offers significant career opportunities.
This global demand is fuelling Central Banks in advanced and developing countries to invest in their own digital version of their coins and notes. These are referred to as Central Bank Digital Currencies (CBDC)
As WIRED details in this article, “With the use of physical cash dwindling, particularly after a year of lockdowns, it is an example many other countries are keen to follow. In its CBDC Global Index, consultancy firm PwC reports that more than 60 central banks have been looking into CDBCs since 2014”
PwC state in their CBDC Global Index 2021, “We believe CBDCs will contribute significantly to the modernisation of the international monetary landscape, hand-in-hand with reconfiguration in both payment and financial infrastructure.”
“In the UK, an HM Treasury and Bank of England CBDC task force was launched this week to assess the “benefits, risks and practicalities” of creating a so-called Britcoin.”
Exciting times ahead.