..

Bank of England could Have Its Own Bitcoin-Style Digital Currency

Written by:
Guest
Published on:
Jan/01/2018

The over 300-year-old Bank of England is considering launching its own Bitcoin-style digital currency according to local media reports following nearly three years of research into linking the sterling with a state-backed crypto.


Bookmaker accepts most crypto-currencies

This follows the path taken by other nations, most notably Venezuela, which is about to launch its own crypto-currency, the Petro. Russia is also looking at a Cryptoruble.

From Bitcoin.com News:

Bank of England Governor, Mark Carney, reportedly “told a Treasury Select Committee before Christmas that he had held talks with other central banks about launching digital currency,” according to Mr. Mendick. Bank of England Could Issue “Bitcoin-style Digital Currency” by 2018

Carney described Bank of England’s study of Bitcoin integration since 2015 as “pretty active in it but we’re also disciplined. If we’re going to apply something to the core of the system, it’s going to need to meet five sigma quality rating.”

Carney confirmed: “I have participated in discussions with the major central banks on this issue” of a central bank-backed digital currency. And over the summer the Bank of England used blockchain technology as a test to see if it could be used as settlements between central banks. It was successful. “The underlying technology is actually of a fair bit of interest. We are working with it at the Bank of England,” he reportedly explained to the Treasury Select Committee.

In the Spring of last year, the Bank of England commissioned Dr. George Danezis of the University College London to devise a cryptocurrency with state-assumed backing, Bitcoin.com News noted.

Up to 40% of all online gambling transactions in so-called “grey” or “restrictive” markets, encompassing more than half the globe, are now done using crypto-currencies.  In the fall of 2017, Bookmaker.eu announced it had begun the acceptance of some five dozen crypto-currencies

- Aaron Goldstein, Gambling911.com

Business/Financial News

What Do Broken Down McDonald's Milkshake Machines Have to Do With a Bitcoin Mastercard Conspiracy?

If franchisees want to switch solutions, the only option that the parent corporation allows is to switch to a software “upgrade” called “Powerhouse Dynamics,” which is owned by the parent company of Taylor, so you can't really escape the system.  Enter Mastercard's similar setup with Bitcoin.

The Crypto Beat - July 28, 2021: Bitcoin Crosses Over $40K Again

The Crypto Beat - July 28, 2021: Bitcoin Crosses Over $40K Again

Plus EU’s ban on anonymous digital currency transfers—a deep dive....cryptocurrency won't be so anonymous any more. 

Bloomberg: DOJ Probing Tether of Bank Fraud

Bloomberg: DOJ Probing Tether of Bank Fraud

A U.S. probe into Tether, a digital token widely used to trade Bitcoin, is looking into whether executives behind the digital token committed bank fraud, a potential criminal case that would have broad implications for the cryptocurrency market, according to a report filed by Bloomberg News Monday morning.

Three Important Features a Pay Per Head Should Offer

Three Important Features a Pay Per Head Should Offer

When selecting a Pay Per Head sportsbook software, there are three primary things to consider in addition to the required reporting, lines management and customer service component. 

BSV Network Attacked: CoinGeek Explains What Happened

BSV Network Attacked: CoinGeek Explains What Happened

The BSV Network has come under attack in recent weeks, more specifically June 24, 2021 and then again on July 1, 6 and 9.  This is likely to become a trend targetting all blockchain networks and crypto sites.

Syndicate