The Business & Finance Working Group supports UK businesses in capitalising on the opportunities provided by the emergence of digital currencies.
The Working Group is made up of members seeking to facilitate the wider adoption of digital currencies through a business-supportive ecosystem. We aim to promote cooperation between members through regular consultation and meetings, where a combined voice and consensus can be reached to help move forward on common business objectives.
Digital currency is a transformative payments technology designed for the internet age. As well as changing established ways of conducting business it also gives rise to new business models and new modes of commerce. We aim, therefore, to encourage, develop and facilitate the establishment of new digital currency businesses. This includes providing guidance to entrepreneurs on raising finance, for example, through start-up incubators, equity crowdfunding, angel investment and venture capital.
Bricks and mortar retailers and online merchants also form a key part of the community. We will seek to educate, develop and support these retailers in order to promote wider adoption of cryptocurrencies.
We will promote the UK as a centre of excellence for supporting ethical and socially-responsible cryptocurrency-related business ventures, with the necessary ecosystem of regulatory, financial, legal and industry best-practices. This includes promoting proper access to UK domestic banking facilities for companies trading with digital currencies. We seek to establish the UK as a “digital currency friendly zone” to encourage investment and employment, and ensure that the UK takes a leading role in the evolution of this new sector.