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Digital Pound Foundation

Digital Pound Foundation is an independent non-profit forum supporting a diverse ecosystem for new forms of digital money.
Digital Pound Foundation
Leadership team

Andrew Whitworth (Executive Board Director)

Phil Kenworthy (Non-Executive Board Director)

Claire Conby (Operations & Innovation Lead)

Helen Disney (PR & Events Lead)

Jonathan Marriot (Digital Marketing Lead)

Michelle Brook (Membership & Community Lead)

Headquarters
London, GB
Region served
United Kingdom
Year stablished
2021
Address
51 The Stream Ditton, Aylesford, Kent, England, ME20 6AG
Social Media
Summary

The Digital Pound Foundation is a member-led forum supporting the introduction of a well designed digital Pound in both publicly and privately issued forms, and a diverse, effective and competitive ecosystem for new forms of digital money in the UK and globally. The aim of the forum is to support the wider understanding of new forms of digital money, whether that’s in the form of central bank digital currencies (CBDC), stablecoins, tokenised deposits, or otherwise. With the help of its members and partners, the platform regularly publishes thought leadership across a variety of formats, from blogs and articles to papers and policy responses. Its podcast series, the Poundcast, has hosted a variety of guests from the traditional finance and fintech space, meanwhile its webinars and in-person events not only connect and engage with the wider industry, but showcase the collective knowledge and abilities of our members.

At the core of the Digital Pound Foundation's mission is its dedication to building a robust ecosystem for digital money, characterized by diversity, effectiveness, and competitiveness. With an illustrious roster of members including Accenture, Ripple, and Electroneum, among others, the Foundation serves as a nexus for industry leaders, policymakers, and regulators to collaborate on shaping the future of digital currencies. Through initiatives like its recent full-day conference on Central Bank Digital Currencies (CBDCs) and partnerships with prominent organizations such as the Hyperledger Foundation, the Foundation continues to advance its advocacy efforts and identify use cases for a well-designed digital Pound. As it forges ahead, the Digital Pound Foundation remains steadfast in its commitment to driving innovation, promoting financial inclusion, and facilitating the seamless integration of digital currencies into the global financial landscape.


History

The Digital Pound Foundation (DPF) emerged in response to the growing momentum and interest surrounding central bank digital currencies (CBDCs) and the potential for a digital version of the British Pound. Founded in 2021, the DPF represents a collaborative effort among stakeholders from various sectors, including academia, industry associations, and policymakers, united by a shared vision of exploring the feasibility and implications of introducing a digital Pound.

The genesis of the DPF can be traced back to the increasing dialogue and research conducted around CBDCs globally, with many central banks exploring the possibility of issuing their own digital currencies. Recognizing the need for coordinated efforts to address the complex challenges and opportunities associated with digital currency issuance, key figures from the financial industry, regulatory bodies, and academia came together to establish the DPF as an independent organization dedicated to advancing the discourse on digital currency innovation in the UK.

Since its inception, the DPF has played a pivotal role in shaping the narrative around the digital Pound, serving as a platform for dialogue, research, and collaboration among diverse stakeholders. Through a series of research initiatives, advocacy campaigns, and multi-stakeholder engagements, the foundation has sought to foster a better understanding of the potential benefits and risks of a digital Pound, while also addressing critical issues such as privacy, financial inclusion, and regulatory frameworks.


Goals and Purpose

The Digital Pound Foundation (DPF) is driven by a clear set of goals and purposes aimed at catalyzing collaboration among stakeholders from various sectors to advocate for the implementation of a well-designed digital Pound. Through research, advocacy, and multi-stakeholder engagement, the DPF seeks to articulate the case for a digital Pound, both in publicly and privately issued forms. It aims to facilitate dialogue and cooperation between public and private entities, academia, and industry associations to explore the practicality and implications of introducing a digital Pound. By providing a platform for collaborative experiments, proofs-of-concept, and pilot projects, the DPF intends to support initiatives that contribute to the development and testing of digital Pound solutions while complementing existing efforts, including those led by the Bank of England and other industry associations.

The foundation's inclusive approach emphasizes the holistic consideration of the digital Pound's implementation, addressing not only technical aspects but also broader societal and economic impacts. Key considerations include privacy, financial inclusion, and technology inclusion, with a focus on ensuring that the digital Pound supports the UK's transition to a digital economy and fosters a more efficient and sustainable payments and financial markets infrastructure. Through constructive advocacy and engagement, the DPF seeks to advance discussions on critical issues surrounding the digital Pound, advocating for policies and frameworks that promote innovation, inclusivity, and the long-term prosperity of the UK economy and society.


Impact

The Digital Pound Foundation (DPF) in the UK has a profound impact on shaping the landscape of digital currencies and driving forward the country's transition to a digital economy. As a non-profit organization, the DPF advocates for the development of a well-designed digital pound, facilitating collaboration between the public and private sectors to ensure the successful implementation of a digital Pound. By engaging with industry associations such as the Payments Association, UK Finance, City of London Corporation, and CityUK, the DPF leverages a diverse range of expertise and insights to conduct research, advocacy, and collaborative projects aimed at advancing the digital currency agenda.

Through its partnerships and membership cohort, the DPF fosters multi-stakeholder collaboration, enabling various stakeholders to contribute to the design, development, and adoption of a digital Pound. By bringing together experts from different sectors, the DPF facilitates knowledge sharing, innovation, and strategic planning to address the challenges and opportunities associated with digital currencies. Moreover, the DPF's engagement with international organizations such as the Digital Euro Association and the Digital Dollar Project underscores its commitment to global cooperation and knowledge exchange, recognizing that many challenges in the digital currency space are shared across jurisdictions. Overall, the DPF's impact extends beyond national borders, positioning the UK as a leader in digital currency innovation and fostering a more inclusive and resilient financial ecosystem.


References
Digital Pound Foundation
Leadership team

Andrew Whitworth (Executive Board Director)

Phil Kenworthy (Non-Executive Board Director)

Claire Conby (Operations & Innovation Lead)

Helen Disney (PR & Events Lead)

Jonathan Marriot (Digital Marketing Lead)

Michelle Brook (Membership & Community Lead)

Headquarters
London, GB
Region served
United Kingdom
Year stablished
2021
Address
51 The Stream Ditton, Aylesford, Kent, England, ME20 6AG
Social Media