Despite the continuous controversy occurring in the field of Bitcoin, London decided to become friendlier toward Bitcoin and further develop the system to fully integrate the virtual currency to their mainstream market, dubbing themselves as the ‘home’ of the Bitcoin ecosystem.
Being one of Bitcoin’s major markets, UK steps up and seizes the glorious opportunity that Bitcoin holds, that somehow seems invisible to other countries using cryptocurrency.
London sees a huge potential for the digital currency to become the next dominant wave of growth in the 21st century. Market leaders and regulators also show mutual interest in grasping and developing bitcoins.
U.K. Treasury sides with Bitcoin
According to a report from UK Treasury, the government shows a very optimistic view in accepting the possible success of Bitcoin payments that will later influence the progresses of payment systems today:
“The government considers that digital currencies represent an interesting development in payments technology, with distributed, peer-to-peer networks and the use of cryptographic techniques making possible the efficient and secure transfer of digital currency funds between users”
In line with this, £10 million or US$14.6 million worth of funds was given dedicated to further Bitcoin studies and research.
Other than developing Bitcoin’s current system, eliminating illegal activities and tightening of security involving cryptocurrencies are also included in the research’s main objectives.
London as the digital currency capital of the future
Together with the government, prominent personalities also share the positive light that Bitcoin brings to the country. For them, cryptocurrency can do a lot in their current economic state, such as giving building more business and job opportunity to the masses.
British Chancellor George Osborne, one of the most influential people in U.K. shows great reception toward cryptocurrency and even involved himself in purchasing a Bitcoin for himself.
He states that he wanted to experience the transaction first-handedly and explore the potential that these cryptocurrency brings especially to small-time businesses.
Having encouraging responses from the government and its people only prove that Bitcoin has a very positive future, especially the Bitcoin companies in the UK that may potentially improve the Bitcoin buy-and-sell system.
High hopes are in store for the Bitcoin gambling industry too
A major supporter of Bitcoin, UK also composes a large share of the population in the Bitcoin gambling industry.
Although there are many Bitcoin betting venues that cater to the European market, the best Bitcoin casinos in UK like Bitstarz is already gaining momentum in introducing Bitcoin games to the whole of Europe’s population.
Likewise, Betcoin Casino, one of the Bitcoin gambling sites that are cater to Europe-based clients, shows inspiring results in the reception of betting sites in the continent, adding more hopes to the warm acceptance of the Bitcoin gambling industry.
Newer sites such as FortuneJack garner positive reviews from the European market, despite only having been launched last year, thanks to its unique Bitcoin games.
With warm responses and positive outlook, there is a huge possibility that the Bitcoin casino market in UK will soon be a major key player in the entire iGaming sector.
Along with the imminent acceptance of Bitcoin in the UK comes the progressive rise of the Bitcoin gambling industry–specifically that of Bitcoin casinos in Europe–reaching greater heights and awakening potentials that will soon revolutionize the economy in general.