Bank of England to Accelerate Blockchain Work

A senior Bank of England official says the central bank's fintech accelerator is looking for new blockchain opportunities.

AccessTimeIconSep 8, 2016 at 6:25 p.m. UTC
Updated Dec 12, 2022 at 1:53 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The UK's newly opened FinTech accelerator is seeking additional ways to explore blockchain tech.

Speaking during an  event in London this week, the chief cashier of the Bank of England, Victoria Cleland, discussed the central bank's efforts involving financial technology, including the founding of a startup accelerator focused on financial applications.

It's here that the Bank of England is seeking to study concepts such as distributed ledger-based digital currency, but the organization is already looking to move beyond its currently disclosed projects.

Cleland said:

"[Distributed ledger technology] is still in its infancy, and there are numerous questions that need exploring. The Bank has already undertaken a proof-of-concept using this technology and we are looking for new opportunities through our FinTech accelerator."

The subject, detailed in an ultimately cancelled speech by Bank of England governor Mark Carney, has since been taken up in the British legislature (though no direct legislative effort has been sought to date).

Earlier this month, a committee of the UK House of Lords heard from a number of panelists on the technology as part of its fact-finding effort into the technology.

London bridge image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.