The technology behind central bank digital currencies (CBDC) could be “tens of thousands of times more efficient per transaction” than bitcoin, according to the Bank of England’s fintech director, Tom Mutton. During his speech at the Future of FinTech Conference on Thursday, he voiced the Bank of England’s (BOE’s) noncommittal interest in the development of a CBDC and its commitment to keeping cash “available for as long as [people] wish to use it.” Talking about the bank’s 2020 survey on CBDCs, Mutton said, as quoted by Coindesk, “Bitcoin, given its performance shortcomings and energy inefficiency, is in no way a relevant comparison f
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