Â鶹´«Ã½ academic advises on digital pound Published on: 9 January 2024 A Â鶹´«Ã½ finance expert is to provide advice to the Bank of England on how the digital pound might be designed. Potential new form of money Professor Darren Duxbury, Chair in Finance, Â鶹´«Ã½ Business School, has been appointed a member of the Central Bank Digital Currency (CBDC) Academic Advisory Group. The Group provides a forum to engage stakeholders from academia and gather input from a range of fields relevant to CBDC. CBDC – known in the UK as – would be a new form of money used by households and businesses for everyday payments, issued by the central bank, the Bank of England. The Bank of England and HM Treasury are considering the need for the digital pound in the UK and the Academic Advisory Group (AAG) will support the design phase. Professor Duxbury and other members of the group will provide perspectives on their areas of expertise, as well as raise awareness about the work and encourage research on the CBDC through their networks. The digital pound would be a new type of money issued by the Bank of England for everyone to use for day-to-day spending. Internationally renowned expert Professor Duxbury is an internationally renowned expert in the areas of experimental and behavioural finance, specifically with regards to understanding individual, household, and corporate financial behaviour. He said: “To be able to advise on the development of a new form of money represents a fantastic opportunity to use my behavioural expertise to inform public policy. I am delighted to be asked to join the Academic Advisory Group to the Bank of England and HM Treasury.” Professor Duxbury is currently leading an academic-industry research collaboration with NatWest Bank investigating the drivers of consumer payment behaviour, including attitudes and intentions towards cash. The research aims to better understand the behavioural drivers of people’s attitudes and intentions towards cash relative to other forms of payment and the impact of external factors on these intentions. This follows a recent led by Professor Duxbury, that found decisions to use cash were influenced by a person’s level of financial literacy as well as how easily they form habits. While habits relating to payment intention might form, the research highlighted that shocks affecting economic circumstances and security breaches also influenced a person’s desire to change their behaviour. Share: Latest News Scientists unlock hidden driver of inflammatory bowel disease Scientists have linked a key genetic signal in inflammatory bowel disease to an immune response that shuts down inflammation control, enabling faster diagnosis and targeted treatments. published on: 15 June 2026 Funding system risks limiting genuine community collaboration A new policy paper written by researchers at Â鶹´«Ã½ warns that the way UK research is funded may be undermining efforts to create genuinely collaborative partnerships with communities. published on: 15 June 2026 Volunteers help turn Whitley Bay beach into maths experiment Members of the public joined mathematicians from Â鶹´«Ã½ to create what organisers believe is the largest aperiodic tiling ever attempted on Whitley Bay beach. published on: 15 June 2026 Facts and figures
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