The Bank of England published a speech last week on Fintech, which included announcing its own accelerator. The accelerator is aimed at partnering with new technology firms, with the focus on innovation for central banking. In return, it will offer firms the chance to demonstrate their solutions for real issues facing the Bank as policymakers.
The Bank of England is also exploring how it - and others - could use the data that it collects more effectively. The Bank considers that Big Data has the potential to help its policy committees identify trends in systemic risk and the economy.
Mark Carney also mentioned in the speech that the Bank of England had set up its own distributed ledger, as a proof of concept, and that it is working with other central banks. One wonders if that might include the Bank of Canada (the central bank of Mr Carney's home nation) which announced last week that it was experimenting with an electronic version of the Canadian dollar and how this might be put on the blockchain.
