A public consultation in the UK on a digital pound called Britcoin has sparked public backlash and widespread concern about the possible consequences for privacy and cash. Respondents expressed concern that a digital pound could be used for surveillance and prompt bank runs, as depositors could more easily move money out of commercial banks in times of crisis.

Reasons for launching digital pound:

The UK government wants to keep up with innovation in the digital society and payments industry. At the same time, it also aims to compete with other regions globally for the use of digital currencies.

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