The Bank of England should steal a march on the rest of the world and develop a crypto-currency, a fintech entrepreneur has urged.
Ron Kalifa, former boss of payment processing company Worldpay, urged governors at the Bank to embrace the currencies rather than dismiss them as a dangerous fad. He said: 'Britain should get ahead on this. Why leave it to China?'
In a report on how to improve the UK's burgeoning fintech sector, he added: 'Individuals would be able to access central bank money.