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Bank of England Chief Economist: Blockchain-based Digital Currency Issued by Central Banks Could Replace Cash

In a talk given at the Portadown Chamber of Commerce in Northern Ireland on September 18, Andrew G Haldane, Chief Economist at the Bank of England (BoE), has hinted at the possibility that the U.K. government might issue a digital currency. 

Though the disclaimer “The views are not necessarily those of the Bank of England or the Monetary Policy Committee” ensures plausible deniability, Haldane’s talk seems to indicate that the BoE is at least seriously considering the possibility.

Central Banker Sees the Future of Money in Bitcoin

Want to know what central bankers will do in the next few years? There's a Bank of England website page you need to read. But you might need a suspension of disbelief to absorb its conclusions.

In 2008, as the financial crisis really began to bite and the U.S. started its slide into recession, the Federal Reserve provided a handy playbook on the maneuvers it would use to try and rescue the economy. Ben Bernanke's 2002 speech "Deflation: Making Sure `It' Doesn't Happen Here," told you everything you needed to know about zero interest rates and quantitative easing, and how they would save the world.

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