As The U.K. Questions It’s Financial Future, Britain’s Bitcoin Island Takes S...
Why is this British isle undergoing hyperbitcoinization, and what could this mean for the U.K.’s monetary future?This is an opinion editorial by Bitcoms, a Bitcoiner and contributor to Bitcoin Magazine. Source: Google Maps The British Backdrop Just days after the anachronistic spectacle of the Queen’s funeral — a bizarre echo of Britain’s long-lost imperial might — the pound sterling fell to an all-time dollar low. A few years before Elizabeth II was crowned, a pound was worth more than $4. Shortly after she was buried, a quid barely bought a buck. Add in the....
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Chancellor of the Treasury George Osborne said on Wednesday that he had instructed the government to explore the possibility of Britain embracing Bitcoin as part of a larger plan to make the country a “global center of financial innovation,” as he was quoted by the BBC. “It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers, here and around the globe, and create the jobs and growth we all want to see in the....
Jersey Island is welcoming to Bitcoin. Jersey, an autonomous island of the UK, is a well established "tax haven" and besides tourism the island's economy is driven by financial services. This has lead to an increasingly affluent people on the cutting edge of financial and technological innovation. Naturally the island wants to secure its future in the emerging world of digital currency. A local campaign group, bit.coin.je, has recently been set up to pursue Bitcoin understanding and adoption on the island. The group is an alliance of Jersey-based businesses and entrepreneurs who foresee....
Iran’s information technology minister has pitched the idea of transforming the Persian Gulf island of Kish into an international center for cryptocurrency exchanges. Iranian authorities plan to create a financial free zone in the territory which has already attracted cryptocurrency miners. Iran ICT Minister Says Gulf Island of Kish Has What It Takes to Be a Crypto Exchange Center Muhammad Javad Azari Jahromi, the Islamic Republic’s minister for information and communications technology, made the crypto-friendly proposal during a recent visit to Kish. The 91-square-kilometer....
The “Let the Bit Drop” campaign to bring Bitcoin to a small Caribbean island was announced about two weeks ago but the name of the island was not known. That information was announced yesterday and the island selected is Dominica. Dominica is a small island in the Eastern Caribbean with a population of only 70,000 people. The project is designed to put Bitcoin into the hands of the entire population, powered by smartphones and mobile wallets. The infrastructure is supported by Coinapult and two different telecomm companies. Project Manager Sarah Blincoe agreed to speak with CoinTelegraph....
France wants a piece of Britain’s financial industry, and the nation says it might make a bid if Brexit doesn’t play equal in Brexit negotiations. According to a London City figure, French officials will aim to harm Britain’s financial industry as payback for Brexit. According to Anthony Browne, chief executive of British Bankers’ Association, sources said confidentially a plot to prevent UK access “under a so-called equivalence regime” would preclude Britain from getting access to EU markets “provided UK rules are as strong as those overseas.” According to This Is Money UK: “The warning....