Bank of England should lead the world by developing its own cryptocurrency, urges former WorldPay boss

Bank of England should lead the world by developing its own cryptocurrency, urges former WorldPay boss

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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.

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