The Third of Britons Opposed the Creation of Britcoin

A third of the UK population is confident that the creation of a local digital currency by the central bank would rather harm than help the country in modernizing its economy.

For the first time, British Treasury Secretary Rishi Sunak spoke about the intention to issue Britishcoins in the UK in mid-April 2021. He urged the local central bank to consider creating a national digital currency.

However, according to a poll from the European division of Politico, about 30% of UK residents believe that the “British coin” – the digital currency of the Bank of England – will do the country more harm than good.

The survey was conducted from 13 to 14 August 2021 among 2,500 Britons.

Only 24% of respondents supported the creation of a digital currency. The remaining 46% found it difficult to answer.

Most people worry about the vulnerability of digital currency to cyberattacks (73% of respondents). They are also concerned about the risks associated with confidentiality (70%) and with the confiscation of money by the government (62%).

At the same time, 40% of respondents said they would approve of the government legalization of the regulatory framework for cryptocurrencies. Only 16% of the survey participants were against this idea.

Unfortunately, 54% of Britons surveyed have only a superficial understanding of how cryptocurrencies work. 29% have a little more knowledge. Another 18% say they “mostly” understand how digital currencies work. Only 7% said they “fully” understand how cryptocurrencies work.

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