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The Central Banks are looking to create a system that enables anonymous payments?

We already have the ability to move money electronically as a replacement of cash.

Can someone please explain to me the benefits of a Bank issued digital coin?

What will it achieve that cannot be achieved with existing technology? 

In order to manage innovation to effect change the first thing that needs to change is the mindset and way of thinking. For too long the finance industry has been stuck in its way of thinking meaning anything new that has been adopted is just another version of what went before and has, at best, papered over the cracks rather than moved anything forward.

Instead, it is imperative to identify the problems, challenges and opportunities that exist (or are foreseen) and design a solution that will answer them. Only then should we choose a technology that best meets the need of that solution with new thinking, looking outside of the existing cosy club of vendors. This will result in new infrastructure and systems designed for the financial requirements of the future.

The question is, is BoE prepared to listen to new technology providers?