Category Archives: Britain

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TV Drama Features Crypto, Still the Elephant in the Room?

Another TV staple added some extra exposure to cryptocurrency. Britain’s longest running TV drama Coronation Street, added a scenario fitting a recent script.

The soap, Coronation Street, is one of the world’s oldest show running on British TV since 1960 and has a run of 9,500 episodes since its creation. The show is watched nightly by over 8 million viewers in the UK and many more around Europe.

The plots, always set in a working-class neighborhood in Manchester, deal with the daily struggles of loves and lives of those living in one street. The current plot in question focused on a local Ryan Conner, an ex-drug user with a serious gambling problem. He remembers a £50 investment he once made in a cryptocurrency called “Whipcoin” (fictional), only to discover that his investment is now worth £250 million.

Of course, he’s forgotten his password, but eventually, upon locating the coins, he finds that the information he was given about the coin was wrong. Although, his investment in Whipcoin had indeed been worth £250 million when the price of the coin peaked. It had since then plummetted in value to practically zero.

Channels such as Bitcoin News continue to bring the latest in cryptocurrency to the public, but the sector still needs greater mainstream media exposures. Although, this is happening slowly with exposure on popular mainstream television such as The Simpsons, The Big Bang Theory, House of Cards, Supernatural, The Good Wife, Silicon Valley, Family Guy, and Parks and Recreation.

The Big Screen is slow to integrate scripts with Bitcoin or cryptocurrency as a theme, but there are a few in the pipeline such as “Crypto,” starring Kurt Russell in the lead role. The film, already in post-production, is reportedly a crime-based thriller following in the footsteps of films such as Wall Street, Wolf of Wall Street and The Big Short which focussed on the economic crisis of 2008.

Such films about the financial sector are becoming increasingly popular and tend to get good box office ratings as a result. Martin Scorsese’s The Wolf of Wall Street quickly became the prolific filmmaker’s top-grossing film at the worldwide box office shortly after its release.

Publisher Little Brown is to release a biography about crypto twins Cameron and Tyler Winklevoss called “Bitcoin Billionaires”. The book, which is to be published both in the UK and US next year, has been bought by Richard Beswick, Little Brown’s publishing director.

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UK MP Talks of Blockchain’s “Monumental Impact”

British Conservative Member of Parliament (MP) Matt Hancock delivered a speech to the Law Society yesterday and commented that blockchain technology will have a “monumental impact” on people’s lives in the future.

At London’s Blockchain Conference held on 19 April, the MP spoke of “vast areas of public life” which he predicted blockchain would transform: the financial sector, government services, and laws and regulation.

The MP pointed out that in June 2017, the UK’s top ten publicly-traded fintech businesses crossed the 100 billion dollar market at a value of GBP 71 billion. He went on to illustrate that it was blockchain which was the most important emerging technology and that UK financial regulators were leading the world in encouraging innovation.

Hancock suggested in his speech that blockchain technology could solve many of the worlds social challenges and cited the World Food Programme Ethereum Blockchain aid initiative as an example. The program has transferred cryptocurrency-based vouchers to 10,000 refugees in Syria, enabling them to buy cash-free provisions.

On the UK domestic front, Hancock outlined how the UK Government’s Digital Strategy demonstrates how Britain could become “the best place in the world to start and grow a digital business and to trial new technologies like blockchain”.

In terms of regulatory barriers, currently being enforced by nations as the technology becomes more of a significant entity among financial systems, the Conservative MP said that the UK government wanted regulators to be “alert and responsive” as well as “supportive” of new technology.

He concluded with a mention of the challenges ahead: “Blockchain poses real and searching questions… What role do nation states have when setting frameworks for these decentralized, cross-border systems? And how do we address the challenges of smart contracts, when computer coding needs specificity and the law often needs interpretation?”

Due to the enormous growth in interest in new crypto assets like Bitcoin, the UK government has created a Cryptoassets Taskforce, consisting of the Treasury, Bank of England and Financial Conduct Authority.


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