The Bank of England announced on Friday that it has reached an agreement with the MIT Media Lab Digital Currency Initiative (DCI) to jointly conduct a 12-month research project on central bank digital currency (CBDC).
In a statement, the bank said the new project is for research purposes only and does not intend to develop an operational CBDC.
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As previously reported, the Bank of Canada announced a year-long joint research effort with the Massachusetts Institute of Technology last week, while the Boston Fed launched a collaboration with DCI in 2020.
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