Jinse Finance reported that as people become increasingly concerned that the Bank of England's digital currency (CBDC) Britcoin will replace cash, Bank of England (BOE) Governor Andrew Bailey stated, 'There is evidence that people do indeed want cash, so we will continue to provide it.' Bailey expressed his support for the bank issuing wholesale CBDC but remains cautious about issuing retail CBDC. He further added that the Bank of England is establishing retail CBDC for innovation. He believes that CBDC innovation should be open to the private sector, which will ensure that commercial banks modernize the digital payment system.