A consumer reward system for businesses, charities, communities, and innovation projects. The Internet Inventors’ Trilemma; How Can Blockchain Help Solve It? The country has four major islands (Anegada, Jost Van Dyke, Tortola & Virgin Gorda) and a number of smaller islands. The main islands you can visit are Saint Thomas, Saint Croix and Saint John. Financial Watchdog Reports Belgian Investors Lost $12 Million to Crypto and Forex Scams, Ethereum Fees Eclipse Bitcoin For Record Straight Two Months, Lightning Network Developers Urge Users to Upgrade Following Discovery of Vulnerability, New Bitcoin Addresses Hit 2-Year High Following Chinese State-Media Touting of Cryptoassets, Mike Novogratz’s Galaxy Digital Says Bitcoin Has ’60x’ Growth Potential, Bitcoin Bounces Back Once Again, This Time From the $9,900 Level, U.S. Dollar’s Bounce and Risk-on Mood Hurting Gold and Bitcoin in the Short Term, Bitcoin in Limbo Until Thursday’s Inflation-Focused Speech by Fed Chair Powell, DeFi Startup Aave (LEND) Takes a Giant Step Toward Mainstream Adoption, The Fed’s Uncertainly Over Future Stimulus Pushes Down Gold and Bitcoin Prices. The British Virgin Islands has revealed that it’s rolling out a national digital currency. "LIFElabs was conceived with an emphasis on philanthropy, and our work with the British Virgin Islands exemplifies this perfectly. The BVI prime minister Andrew Fahie believes that blockchain technology and the new digital currency will enable the territory to become a global financial hub. The digital currency comes as no surprise, given the continued support the islands have offered to crypto companies. Government, LIFElabs.io to develop BVI~LIFE™, a digital currency for the betterment of the territory.. Tortola, British Virgin Islands – December 3, 2019 – As part of an on-going initiative to grow the Financial Technology sector, the British Virgin Islands is hosting its BVI Digital Economy symposium on December 3rd. Currency guide to US Virgin Islands and US Dollar (USD) rates and money saving tips - Travel Money & Transfers. Our partner, LIFElabs, has demonstrated with their proven track record that their ideology is not just mere words, and we look forward to continuing our partnership with them on the rollout of BVI~LIFE, our digital currency.”, However, as noted by Ledger Insights, the announcement didn’t mention that BVI-LIFE will be a central bank digital currency (CBDC). You can now spend your Bitcoin (BSV) at over 200+ retailers thanks to Anypay’s new offering; Pow.Cards. "The importance of blockchain technology and the significant benefits it offers the BVI, are paramount to the territory. Home » Business » British Virgin Islands to roll out digital currency. OFFICIAL COMPANY PRESS RELEASE. The coin will be a stablecoin pegged 1:1 to the US dollar, which the BVI have used since 1959, and its use is expected to reduce transactional fees, increase transaction speed and be accessible to outsiders such as tourists. The British Virgin Islands have taken a bold step that other countries have been exploring for years. With the Rapid Cash Response fund, we're creating necessary tools for the government to defend against disaster and protect its citizens from the aftermath," the startup's CMO David Pugh-Jones said. China is one of these countries and despite reportedly conducting research on digital currencies for over five years, it’s yet to make any substantial step towards issuance. Subscribe to International Investment's free, twice-daily, newsletter, © Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013, The importance of blockchain technology and the significant benefits it offers the BVI, are paramount to the territory", Digital publisher of the year 2010, 2013, 2016 & 2017, BVI's government commits to 'publicly accessible registers', Financial industry is the ‘fifth emergency service’ in BVI, France blacklists BVI and Bahamas as non-cooperative tax havens, UK's FCA bans sale of cryptocurrency derivatives, Booming Africa crypto adoption sparks regulation concerns, FCA approves Archax as UK's first digital assets exchange, China announces major expansion of digital yuan trials, Revolut to give clients legal ownership of cryptocurrencies, EXCLUSIVE: Last-minute calls for BOD-49 reversal to stem UAE adviser exodus, David Kneeshaw wins Personality of the Year (Industry) at the II Awards 2020, EU blacklist: Barbados 'appalled' at 'unjust and disproportionate treatment', Bonham Carter steps down from Jupiter board for stewardship role, JP Morgan Chase pledges to 'shift away' from fossil fuel investments: reports. 2017 in its venture s rolling out a national digital currency will enable to. 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