British Locals are Not Fully into Digital Pound

As the crypto-blockchain technology has continued growing larger with size, the governments are convinced that the central bank digital currencies would be a success. This is when the central bank of the United Kingdom has also shown interest in the adoption of CBDC.

However, it is always useful and most critical to know exactly how people of the United Kingdom perceive the CBDC. This is when the research was conducted with aim to gather data around the same factor and the outcome of the research was an eye-opener.

As per the research that was conducted around support for CBDC, 1 out of 3 citizens of the United Kingdom does not want CBDC. These citizens have shared their concerns about the adoption of CBDC, fearing that they have the potential of bringing more harm to the economy.

On the other hand, there are only 24% of the citizens in the United Kingdom support the idea of adopting the digital pound. According to them, the digital pound would prove to be a successful asset that the United Kingdom will be able to benefit from.

As time progresses, the need for digitalization in the financial system is being felt throughout the globe. This is when the central bank of the United Kingdom has also shown its interest in the adoption of the CBDC.

However, the research has proven to be very important in order to establish how things would work. The recent results from the survey have made it clear that for now, only a quarter of the total population in the UK supports the digital pound.

The recent research that produced these results was the one conducted by the company known as Politico. Politico is reportedly a journalism company from the United States. The company went ahead and carried out the survey around the adoption of CBDC among 2,500 citizens of the United Kingdom.

In the survey, Politico asked questions from the adults from Britain to know exactly what they think about the CBDC. The survey wanted to gather the opinion of the citizens in the United Kingdom around the issuance of a digital pound.

In the survey, 30% of the citizens clearly stated that they did not like the idea of adopting or spending money in the form of a digital pound. These people did not seem to like the idea of doing things digitally when they could easily do it through paper money.

These people claimed that the country and its economy would not at all benefit from the digital pound (Britcoin). Especially after the Brexit, which took place during the pandemic, the country will only have another liability added in the form of Britcoin.