On June 17th, the Bank of England (BOE) announced a new initiative with a financial technology accelerator that will partner with fintech firms to help ‘harness innovations for central banking.’ This was underlined in the recent speech by BOE Governor Mark Carney the very same day. Alongside BOE’s new accelerator program they have also partnered up with PricewaterhouseCoopers to research blockchain innovation.
The Bank of England is starting to believe in the financial technology revolution taking place around the globe. The recent announcement of a new fintech accelerator program confirms all the rumors of the central bank investing its time into this space. BOE Governor Mark Carney seems to be very interested in the innovative phenomena happening worldwide as central bankers everywhere are hearing about the vast opportunities of blockchain solutions and melding tech together with finance. BOE Governor Mark Carney states in his recent address:
“Our Fintech Accelerator has already carried out initial work in the areas of data anonymisation, cyber security, and distributed ledger technology. Other areas of potential future interest for the accelerator include, finding new ways to structure and analyse large datasets, machine learning, particularly in relation to