Categories: Education

London, Bitcoin City Of the Future

London has long been the capital for many features including arts technology and also plays host to food and music from around the world. Whilst Amsterdam and other cities in Europe are striding towards Bitcoin adoption, it seems London too is hoping to join the trend as it continues to expand its infrastructure to cater for a ever developing Bitcoin economy.

Britian has long been one of the favourites to embrace Bitcoin technology as many politicians have also acknowledged Bitcoin’s power to revolutionzie payments and the concept of a currency in many ways. However it has come as a surpirse as London has been highlighted as one of the most Bitcoin freindly places in the country. With the number of establishments already taking up Bitcoin as a form of payment increasing by the day, the capital has become a attraction for Bitcoiners all around the world as the drive for adoption and adaption is particularly heavy.

“What we see in the UK … is a different attitude,” said Jerry Brito, executive director of Coin Center, a Washington DC-based non-profit advocacy group for digital currencies. 

“It’s a very positive attitude, one of: this is an amazing innovation, we’re going to have to have some kind of regulation in terms of money laundering, but let’s do this in a constructive way, in partnership with the technologists and the industry.”

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As seen last year, companies located in the UK have been largerly successful in raising capital and are among some of the most desirable to invest in. With UBS currently exploring its options in the Bitcoin feild it has also come as a shock as the government too are willing to invest in Bitcoin. With the political and financial implications of Bitcoin thourouighly explored, London has become the Bitcoin hub of the UK catering for all including industrial and retail oriented businesses.

London is yet to be bound by restrictions and regulations which may have slightly stifled the development and adoption of Bitcoin in other countries such as the US and Australia which have both taxed Bitcoin slightly stifling it. London has been seen as the home of the free, dedicated and persistent Bitcoiner as the Number of BTM’s in the capital has risen sharply to accommodate a larger Bitcoin Userbase.

To conclude London is slowly but surely taking steps to secure its place in a world embracing the technology of Bitcoin. With a huge number of establishments currently allowing for a Londoner to spend his Bitcoins in real life it may be a matter of time till legislation is passed similiar to laws put into place in the US, which will help regulate and stimulate the use of Bitcoin.

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Mark Arguinbaev

I'm a 28 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

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Mark Arguinbaev

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