Re: Will happen, will be first, will succeed, but will be more like a database
"Proof of work" is inherently slow, but slowness prevents excessive forking (an issue for Ethereum relative to slower bitcoin). A CBDC would only include clearing banks, other central banks, and some wholesale banking parties - no retail transaction. With a smaller group, simpler/faster hashes can be used.
In the retail channel, digital removes friction for large payments, and automates settlement for smaller payments.
The Bank of England will be amongst the first, because (unusually) it is not the only issuing bank for sterling£ notes (RBS, BoS, Ulster Bank etc also issue £ notes).
Biting the hand that feeds IT
