Imagine a new type of money, only digital! The Bank of England, like a giant bank for the UK, is thinking about making a digital pound. But one economist isn't so sure it's a good idea.
He thinks it's expensive and people don't really want it. Lots of people already use apps and banks to pay for things.
This digital money wouldn't earn interest, making it less appealing than regular bank accounts. There are also worries about privacy.
- A former Bank of England economist thinks a digital pound is a waste of money.
- He says people already have good ways to pay for things digitally.
- He's worried about how this would affect people's privacy.
| Fact | Details |
|---|---|
| Cost | £24 million (over $30 million) spent so far |
| Customer Demand | Economist says there is none |
| Alternative Payments | Many digital payment systems already exist in the UK. |
