The council, called the CBDC Academic Advisory Group (AAG) will consist of experts from a variety of fields, including finance and monetary policy, competitive economics, industrial organization, the science of mass behavior, marketing, and business.
“The group will be managed by the Bank of England and Her Majesty’s Treasury. Through AAG, we aim to create expert academic input into the design of the state cryptocurrency, to promote interdisciplinary discussions about it. We believe that engagement with academia is critical to ensure an integrated and thoughtful approach. Within the group, we will share knowledge and collaborate on research. The AAG should provide a broad and detailed view of key issues related to CBDC,” the agency said in a statement.
Bank of England officials clarified: applications for the group will be accepted until Sept. 3.
It was previously reported that the Bank of England plans to make its digital currency on an anonymous and confidential basis.