The Bank of England has been forced to back track on a "digital pound" as the majority of consultation responses raised concerns

"No final decision has been made to pursue a digital pound – also called a central bank digital currency (CBDC).

The feedback from respondents from a range of industries and organisations was largely supportive ... while other respondents raised concerns about the implications of a digital pound for access to cash, users’ privacy, and control of their money.

To address these concerns, today’s publication confirms that, if a digital pound were to be implemented, primary legislation would be introduced, and this would guarantee users’ privacy and control. The Bank and the government would not have access to any personal data and users would have freedom in how they spent their digital pounds." ... It's clear that whilst the financial services industry is backing a CBDC, the public ("other respondents") are not. ... As a result, the UK are being forced to promise safeguards and pretend that no final decision has been made yet ... And just for kicks, here's the official blurb on the stability of fiat... "Like banknotes, it would be a claim on the Bank of England, have intrinsic value and be stable, unlike unbacked cryptoassets." ... FYI, the ability to test the 'claim on the Bank of England' and trade your notes for gold/silver was suspended in WW1 and never re-introduced... ... Source: https://www.gov.uk/government/news/bank-of-england-and-hm-treasury-respond-to-digital-pound-consultation