Due to growing concerns that the Bank of England's digital currency (CBDC) Britcoin will replace cash, the Governor of the Bank of England (BOE), Andrew Bailey, stated that "evidence shows that people do want cash, so we will continue to provide it." Bailey expressed his support for banks issuing wholesale CBDCs, but was cautious about issuing retail CBDCs. Bailey further added that the Bank of England is establishing a retail CBDC for innovation purposes. He believes that CBDC innovation should be open to the private sector, as it will ensure that commercial banks modernize their digital payment systems. @tyugvv