British lawmakers discussed Bitcoin and blokcheyn at the working session in the Parliament

Economic Affairs Committee of the House of Lords held a meeting to discuss and cryptocurrency blokcheyna. Views were expressed both for and against the widespread introduction of technology.

This was the first discussion kriptovalyutnoy technology of this scale in the British Parliament. On asedanii was attended by Deputy Chairman of the Bank of England's monetary policy, Ben Broadbent, co-founder of the consulting company 11: FS, specializing in matters finteha, Simon Taylor, assistant director of the Research Centre for cryptocurrency at the Royal College of Katherine Mulligan, Professor of Gresham College, Michael Mainelli, director insurance PwC Lord Spence.

The discussion was also attended by conference call executive director of the Digital Asset Holdings Blythe Masters.

During his speech Broadbent spoke about the study prepared by the Bank of England. According to the document, the issue cryptocurrency British central bank will increase GDP by nearly 3%. This will contribute to a reduction in real interest rates and the cost of foreign exchange transactions.

"If you think about these things on such a scale, the benefits are obvious and quite significant, as, incidentally, costs. What I'm really trying to say is that, though it is a very young technology, I am sure that some of the questions which it refers, is very old, if not ancient. "

Responding to questions from the committee members, Broadbent said that the Bank of England will not use open blokcheyn system to create digital currency. He explained that against an open system serve particular market participants. According to Broadbent, the participants of the financial system would have preferred a system that would include oversight by regulatory authorities.
"People want us to participate," - said Broadbent.

Special attention was paid to the parliamentary committee privacy. According to the Committee, and a former member of the UK Chancellor Alistair Darling, the system benefits from the concept of social security funds, developed by the British Department for Work and Pensions, contains a number of unresolved ethical issues. According to Darling, the use of technology blokcheyn "" does raise an ethical problem concerning the question of whether the state should know if someone spends money on this or that thing. "

But Mulligan of the Research Centre for cryptocurrency at the Royal College of confidence in the correctness of the concept, because its use does not require special supervision. However, she acknowledged that the concept must be supplemented to some concerns about privacy have been resolved.

"There are, in fact, a number of important issues that must be considered from the point of view of regulation, as well as several moral and ethical issues that are raised in our society, if we want to use these technologies", - said Mulligan.

The Bank of England this year, announced the beginning of work on the project to create a digital currency called RScoin. This will be a central analogue cryptocurrency. Some distributed registry technology advocates negative assessments of the desire of the Bank of England, noting that the central cryptocurrency analogues can not be and it is contrary to the very idea of ​​technology.