The project, called New Era, is expected to last from twelve months to a year. It was initiated by the Digital FMI Consortium, a group of private companies with presumably about twenty decision makers. Notably, earlier Rishi Sunak stated that England plans to become a crypto hub.

This is staggering, given the conservative stance on crypto by the Bank of England and regulators, who will be fully aware of the progress and results of the project.

Recall that national cryptocurrencies are being actively tested in other countries like Russia, China and others.

This year will definitely be unique for the world of finance at this pivotal moment. We will keep an eye on the situation, stay tuned for more.