The Bank of England announced that it plans to launch its own cryptocurrency in 2018-2019.
2017 was a year of an unprecedented success of Fintech industry and cryptocurrency world. For example, Bitcoin has shown a shocking growth in price from 800 USD in January 2017 to 14 000 USD in January 2018, Ether has also shown extraordinary growth of over 15,000% – from $8.24 to $1,314.64.
In the end of 2017, the Bank of England announced about the creating of a group to investigate the chances of developing a cryptocurrency, similar to that of Bitcoin or Ethereum. Such research teams were also created in India, China, Japan and a number of other countries in 2017.
The group of prefessionals in different fields will present a report on their research in 2018. The Bank of England representative, Mark Carney, might apply the new British cryptocurrency primarily for transactions conducted between central banks across the world.