In January I had the difficult task of sharing my concern that we might have to close the £B digital currency because of a lack of funds. At the time I said we were allowing ourselves until the end of February, to see if we could find a way to avert this.
The good news is that in the intervening six weeks, several people came forward with ideas for funding, investment and technical support. And of those, one company in particular is able to offer a solution that is in line with our values as well as our long term vision. (If you’re wondering what that vision is, you can read the blog I wrote about it here)
In the next month, we’ll be finalising a contract to underpin the working relationship with our future partner, and I look forward to being able to announce their name when that is done.
So, the great news is that both the digital and the paper currency can continue to operate.
In a few months’ time, we expect to be migrating the digital currency to a platform that will improve the user experience from day one. But even more importantly, that migration will pave the way for the development of new functionality which will in turn help us to achieve our constant ambition – to create a greener, fairer and stronger local economy.