Think tank: the UK pound privatization and accept the encryption currency
The study of economic affairs today released a report pointed out that Britain should be privatised and replace it with encryption currency pounds.
The Institute was established in London’s Andrew Marr1955, which is known as the modern British history “the most influential think-tank”. Its impact on public policy can not be ignored. The Institute believes that bitcoin will open private money tide gate, but there is a big difference between bitcoin and previous private money, such as bitcoin decentralized nature, so it is hard to stop, this is why it to today.
Report entitled “new private money — a small role?” Kevin Down professor of power behind this unconventional monetary technology including digital currency like bitcoin is the “financial freedom more and more restrictions”.
Dowd believes that the authorities must give private money in a fair competitive environment conducive to competition and stop the repression of private money. The central bank should welcome competition, this will force to provide more choices and improve their quality. “Because the value of the low, more and more financial constraints, lack of heavy taxes and property of privacy, caused the people more disappointed with the government issued currency and. While private money has more excellent properties, and it advocated financial freedom will be more attractive.”
Dowd believes that the government should stop supporting their own currency and stop those supporting regulations. He told the “Guardian” reporter explained private view of his advanced, this is the equivalent of some old, old monopoly, like the British Gas Company and British telecom. Telecom Company is a good example, in quite a long period of time, we are a government monopoly, which hinders the innovation and service is very poor. Once open the limit, started the competition, the new reform started, we have got a lot before the unexpected change, which makes us benefit.”
Britain and other countries should decide the privatization of national currency and private currency competition, Dowd thinks the new currency should be encrypted currency. Although Dowd has been talking about bitcoin, but he believes that bitcoin is unlikely to replace the dollar, because bitcoin will easily cause double, and he believes in bitcoin will fail in the future competition. However, the professor still saw a glimmer of hope, hope that the future of bitcoin will be replaced by a more superior and imaginative way.
Dowd out of four successful bitcoin:
1, bitcoin exchange cost is low
Self regulation 2, bitcoin market, the central bank’s control
In 3, financial freedom is eroding the government today, bitcoin achieved high levels of anonymity.
4, new elements of bitcoin can be used in the national ban on trading activities.
Mark Littlewood , director of the Institute of economic affairs that the recognition of private money to suppress them is more conducive to the promotion of human rights and freedom. He said, “bitcoin as a new form of payment and a means of promoting financial freedom has achieved widespread success, but this is only a beginning. Strong demand for private money will promote innovation, create a new wave of payment.”