Over the last 24 hours the bitcoin has seen a small but relatively stable increase of just 0.1% which is a good sign of the continuing stability of the often highly volatile cryptocurrency.
In the last day, however, there has been an very positive increase of around .05% to 4.5% in the value of various other main cryptocurrencies like dogecoin, litecoin, namecoin and peercoin which indicates an increase in interest in most of the digital currencies.
With a market capital of over $12 million (£7 million) the biggest surprise in the digital currency market today was the ever troubled darkcoin, which saw a massive hike in value, jumping by 11%.
A financial revolution could be started with the help of bitcoin
Using terms such as the ‘internet of money’ and saying that the bitcoin could essentially be used to fund a future revolution a new proposal is demanding that more regulation for the bitcoin be brought in for the cryptocurrency.
In an article published in the Internet Policy Review journal Andy Yee, the author of the article and analyst at google wrote that the potential of the bitcoin becoming the ‘internet of money’ was a far greater indication of the real value of the currency and not its ability to substitute the need for real money.
He went on to add that a financial revolution could be started that would affect how people pay for and own things stating that the bitcoin has become so much more than just a money substiture and is actually more like a layer of logic for peoples finances.
Calls for a framework to be put in place for cryptocurrencies by startup companies in the UK
Calls have been made for the government in the UK to push for the regulation of bitcoin and other cryptocurrencies by a coalition of venture capital companies and startup companies based in London.
Having outgrown major cities around the world including New York and San Fransisco the financial technology sector(FinTech) in London is now bigger than any other worldwide.
Despite this fact though there are still a number of significant barriers that are hampering innovations at FinTech according to the Coalition for a Digital Economy (Coadec) who have put these claims in their ‘Startup Manifesto’ which has been written by Guy Levin from Coadec.
According to the manifesto a framework that covers a variety of compliance requirements including that of VAT and tax in relation to the many cryptocurrencies out there should be pushed for by HMRC.
Children to get the chance to experience cryptocurrency thanks to piggycoin
Using the term ‘bitcoin for kids’, the new cryptocurrency called Piggycoin is now going to be used to reward children for learning using the Khan Academy, which is an educational organisation that doesn’t take a profit, as a platform.
A million piggycoins will be handed out to those signing up as part of the #AmillionReasons campaign which is designed to pay both children and adults for learning.