Digital Currencies Like Bitcoin Could Increase UK GDP by $80 Billion

Digital Currencies Like Bitcoin Could Increase UK GDP by $80 Billion

Barely a week after the World Economic Forum published a 139-page report that focused on blockchain all through without a mention of Bitcoin, it has released a Youtube video titled: What would happen if the United Kingdom issued a digital currency like Bitcoin? The less-than 2-minute informative clip highlights key findings attributed to the Bank of England and the IMPACT Institute for the Digital Economy as sources as to what the UK would benefit by issuing a digital currency. Huge potential of Blockchain in the UK. The Bank of England modelled an economy with a digital currency equal to....


Related News

PBOC Vice Governor Says Central Banks Should Lead on Digital Currencies

Fan Yifei, vice-governor of the People’s Bank of China believes the best way to make the most of digital currencies is to supervise them and to create their own digital currency. Writing in the Bloomberg View column, Fan states that in order for the PBOC to tackle the challenge of supervising digital currencies it needs to think about how it can maintain financial stability, innovation and proper supervision regarding the issuance and circulation of the new digital currencies. Fan said: With internet access increasing and encryption technology improving, the conditions are ripe for digital....

All Digital Currencies Are Up

The total market cap for all digital currencies reached a new all-time high today, standing just under $25 billion, with 24 hour volumes at near $1 billion, as spring seems to have ushered in renewed optimism. The total market cap for digital currencies has reached a new all-time high. Just days after SEC rejected the bitcoin ETF, the millennial generation appears to be even more interested in decentralized free market money, with bitcoin rising from a low of $1,050 on the day of the decision to now stand around $1,230, $30 above gold’s price. The second biggest digital currency, ethereum,....

PayPal to offer crypto payments for merchants, limited trading on Venmo

After their limited crypto trading service "exceeded expectations," the company will double down on crypto, blockchain, and digital currencies in 2021 After a limited buy/sell/hold crypto trading launch that "exceeded expectations," PayPal CEO Dan Schulman said on the company's Q4 earnings call today that the payments giant is ready to double down on cryptocurrencies. “We also saw an exceptional response from our crypto launch,” said PayPal CEO Dan Schulman. “[...] The volume of crypto traded on our platform greatly exceeded our expectations.”Schulman said that crypto would be accepted “as....

Philippines Considers Bitcoin Regulation amid Remittance Increase

The Philippines government is discussing whether to regulate digital currencies like bitcoin in the country to improve protection for its citizens as the number of Filipinos abroad using bitcoin to send money back home increases. Ranked as the world’s third largest recipient of remittances, with nearly $30 billion coming into the country last year, amounting to around 10 percent of the country’s GDP, the Philippines is ripe to take advantage of the digital currency. The Philippine central bank could soon regulate digital currencies like bitcoin. In a report from Bloomberg, Nestor....

US Representatives Add Digital Currencies to the 2021 Defense Bill

The United States government is preparing to pass the 2021 National Defense Authorization Act (NDAA) and the latest bill includes a broad definition of currencies and includes “digital currencies.” However, after more than 50 NDAA bills passed, President Donald Trump plans to veto the act which is expected to authorize more than $740.5 billion. U.S. Congress members are expected to complete the National Defense Authorization Act (NDAA) for the 2021 fiscal year. The NDAA is the name for a series of U.S. laws that involve the U.S. Department of Defense and the entity’s....