Gillmore Centre Network
Michael Mortenson, Associate Professor and Course Leader on the forthcoming MSc in Applied Artificial Intelligence, who has volunteered to go to the Parliamentary Fintech Summit to represent the Gillmore Centre.
Long before the advent of Bitcoin, one of the most influential free market economists of the 20th century forecast the arrival of a decentralised digital currency.
鈥淚 think that the internet is going to be one of the major forces for reducing the role of government,鈥� Milton Friedman declared back in 1999.
鈥淭he one thing that is missing but will soon be developed is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B without A knowing B or B knowing A.鈥�
In other words, this digital currency would exist beyond the control of national authorities – and anyone else.
Innovate Finance and 鈥榣eading FinTech industry players鈥� have given support to the digital pound, claiming it will boost innovation and cement the UK as a global payments leader.
The Bank of England and HM Treasury have both claimed that there is 鈥榣ikely to be a future need for鈥� a digital pound or Central Bank Digital Currency (CBDC) as the UK battles for financial stability.