The Bank of England is considering launching a new form of digital public money. It’s opened a survey asking the public’s view and the deadline to respond is midnight on Tuesday 7th September. This is a rare and important opportunity. If thousands of us respond and demand that any new central bank digital money be truly public, then together we can reduce the power of the big banks and help democratise our economy.
You can answer as many questions as you want, but the Positive Money team suggest you:
- Respond as an individual
- Answer “Very important” to question 6: “How important is direct access for the general public to central bank money in a digital world?”
You don’t have to answer any more questions than this, so it will only take a minute to submit.
We suggest you answer this question because it is a fundamental one. If the public was able to directly access a central bank digital money, we would no longer be reliant on middlemen like profit-maximising private banks, and this would create the foundations for us to build a new money and banking system which truly serves people and planet.
If you want to answer more questions in the survey you might find our blog with more background information useful, and the Bank of England gives background to the consultation here. The deadline to respond is midnight on Tuesday 7th September.
Note, the Positive Money research and policy team are making their own submission, responding to all the questions in finer detail.
The Positive Money team have also made an explainer video about central bank digital currency. You can watch it on Twitter, Facebook or on Youtube. You can also check out this post on Instagram for more background information. Don’t forget to like, retweet, comment, and share – it all helps to spread the word!