Campaign to Make Jersey a Bitcoin Isle

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Campaign to Make Jersey a Bitcoin Isle
Campaign to Make Jersey a Bitcoin Isle

Campaign to Make Jersey a Bitcoin Isle

Bitcoin is reaching new places, as every passing day some businesses and merchants in various parts of the world are announcing that they are accepting the digital currency. Various governments around the world have a policy that is against Bitcoin, while several others are still waiting for the right time to make any decision.

However, the island of Jersey is a place that is carving a niche for its special attraction among Bitcoin users. Now, some of the Bitcoin enthusiasts are gathering into make Jersey the world’s first “Bitcoin Isle.” The effort may not just boost the scope of Bitcoin and help the users have spectacular avenues but also set an example for other cities.

According to Robbie Andrews, cofounder of bit.coin.je a campaign has launched to push the island to the forefront of Bitcoin adoption. He says that obviously Jersey’s a well-known finance jurisdiction and there’s been a movement to try to build secondary industries around this. Thus, it seems that the organization is quite sincere about the work and the place will soon be Bitcoin Isle.

Robbie Andrews believes that within the finance and IT sectors, cryptocurrencies were an obvious area of interest for him and for him it seems like it is picking one tech that fits between the digital space and the finance space and that is cryptocurrency. Now, he wants to focus on Jersey and make it a world leader in digital currencies.

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Several Shops and Outlets Already Accepting Bitcoin in Jersey

There won’t be much difficulty for him as several companies and outlets at Jersey are accepting payments in Bitcoin and if the States allow banks to accept and trade with it, Jersey could become a magnet for new businesses as well. The sentiments of Robbie Andrews are shared by Treasury Minister Senator Philip Ozouf who says he wanted Jersey to be an early leader.

Though there are some issues around the digital currency, like a lack of regulation and concerns over potential for money laundering and other illegal activities involving it; the people behind the idea think they can overcome this obstacle as the time passes.

The government and authorities have set their eyes on the rogue elements in Bitcoin ecosystem and in that pursuance in October 2013 the FBI shut down online marketplace Silk Road which traded in drugs and other illegal goods, and took payments using Bitcoin.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com