Tag: Central bank

Bitcoin Is Smoking

Thousands of tobacco shops in France will start to sell Bitcoin coupons from the 1st January next year.

This year has been a funny one for Bitcoin. If we look to the future we expect to see Bitcoin surge once again to its one time high of almost $20,000 but as of now, it is trading at just under the $4,500 mark. When we look back to 2018, most of us will most likely see it as a write off since this whole year has basically been a downtrend with the past two weeks massively crashing the price of Bitcoin.

Nevertheless, 2019 is a new year with new hopes and it is quickly approaching and bringing in good news for the crypto market. At the start of next year, there will be thousands of points of sales which will be selling Bitcoin throughout France.

With support from the Central Bank, and the French Prudential Supervision Resolution Authority, the institution charged with monitoring the transactions performed by banks insurance companies in France.

As reported by Bitcoinist, the authority has officially started the authorise the Federation of tobacco shops to start selling Bitcoin at the start of next year. Initially, there will be around 3,500 shops which will be geared up with the software to process direct purchases of coupons of Bitcoins.

The amounts of Bitcoin which can be purchased will be of values which include, 50 euros, 100 euros and 250 euros. Following this, the other tobacconists will also be geared up to exchange the leading digital currency.

Source
Author: Adrian Barkley
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Bahamas Central Bank to Launch Pilot Digital Currency

The Central Bank of the Bahamas is planning to introduce a government-backed pilot digital currency, Jamaica Observer reported June 22

Speaking at the Bahamas Blockchain and Cryptocurrency Conference earlier this week, Deputy Prime Minister and Minister of Finance of the Bahamas, K Peter Turnquest, made the announcement, saying that the development of a fully digital payment service is “the way forward for this era of governance.” Turnquest continued:

“A digital Bahamian currency is especially important for the many family islands as they have seen many commercial banks downsize and pull out of their communities, leaving them without banking services. As an island nation, where transportation can be an inconvenience for many, especially the elderly, and costly, we must offer financial services digitally and securely.”

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Turnquest also advocated for applying blockchain on a nationwide level in order to transform the island of Grand Bahama into the “digital paradise of the region.” He reportedly expects the government to launch a pilot program of issuing blockchain-based education certificates for graduates of the National Training Agency, as well as inspect the ways blockchain can be applied for business licences, passports, and national insurance.

Turnquest added:

“Using technology and single points of contact we’re able to eliminate a lot of the human element that facilitates corruption, and so when we talk about applying for government services, if we have a single portal for entry and all of the processing being done behind the scenes, either through electronic data interchange or through human facilitation we can eliminate that point where, we Bahamians call it, you have to tip somebody in order to get service.”

The nearby island nation of Bermuda is also in the process of developing a friendly legal framework for virtual currencies and blockchain. In past months, the country signed memoranda of understanding with Binance Group and blockchain project Shyft. The former considers establishing funding for educational programs related to fintech and blockchain startups while per the latter, Shyft network will spend up to $10 million on blockchain technology education and economic development.

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Source
Author Ana Alexandre 
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