How cryptocurrencies could boost the BRICS
Talking about the rise and rise of Bitcoin in China to the WEF, Eric Mu a local entrepreneur and Bitcoin miner listed the factors contributing to its popularity there: “…a large internet-savvy population, cheap and abundant hydropower, mature electrical manufacturing, capital control and a depreciating currency.”
In fact, Mu could have been describing any one of the BRIC nations, who met in China this week for their annual summit. Despite its wild price fluctuations and criminality factor, the digital currency’s benefits may prove too good for those now maturing economies in Xiamen to ignore.
But right now, the signs are not …read more