We are pleased to publish our response to the Bank of England’s recent CBDC discussion paper
Copper is pleased to submit our response to the Bank of England’s discussion paper, ‘Central Bank Digital Currency: opportunities, challenges and design’.
We strongly support the Bank’s decision to explore the concept of a CBDC, and engage private firms in the conversation via a discussion paper.
A Central Bank Digital Currency (CBDC) would be an innovation in both the form of money provided to the public and the payments infrastructure on which payments can be made.
Copper appreciates the opportunity to engage with the Bank on this important topic, and our comments are primarily related to the innovations the BoE should be factoring into the design of the CBDC from a security standpoint.
Specifically, we strongly encourage the Bank to take into account the robustness of multi-party computation (MPC) cryptography for safeguarding the private keys that control cryptoassets.
You can read the full letter here.