The Bank of England has conducted a study into the feasibility of offline digital payment systems for a potential digital pound, allowing various transactions without internet access. Collaborating with several tech firms, the study showed that while offline payment technology might be feasible, significant policy choices and security challenges need to be addressed. No concrete infrastructure has been established, and the bank emphasizes further examination of legal and operational factors before implementing any offline payment functionality in a digital pound.
No final decision has been made on whether an offline payment functionality would be implemented for a digital pound.
This project demonstrated that it might be technically feasible to implement an offline payment functionality for a digital pound but there are security, performance, and user experience challenges which need to be explored further.
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