Brexit

The upcoming US free trade talks have provided an opportunity for the UK’s Department for International Trade (DIT) to negotiate provisions for digital trade, which underpins the UK economy and is vital to both service and goods exporting businesses.

The California based cryptocurrency exchange Coinbase might move all digital asset accounts belonging to European users to another reliable and accredited entity operating within the EU in the event of a no-deal Brexit.

The government of Italy has been focusing on innovative initiatives such as blockchain technology, artificial intelligence (AI), industry 4.0, smart contract, the internet of things (IoT) and others. Italy now wants to become the leading European country in technology after the Brexit. Albeit, anything positive effort must be put in the system if digital technology is to become a mainspring for the real economy and poise public finances.

Ireland is being seen as the next potential leader as far as the field of Blockchain technology is concerned. As a matter of fact, the majority potential citizens have already started to construct a strong foundation to make the initiative flourish.

In August 2018, Chancellor Philip Hammond predicted hefty economic injury from crashing out of the EU without a deal, warning of an 87.7% punch to GDP and a £80 billion void in public finances.

Crypto community calls for UK businesses to adopt digital currencies to ease the instability of Brexit. Cryptos are a secure option to usual currencies that are registering rising conventional adoption from both major financial institutions and consumers.

In a decision that would send shockwaves across the financial markets, the United Kingdom voted to leave the European Union by 52% to 48% on the 23rd of June 2016.

The Bitcoin price has already surpassed its historical maximum and confidently goes higher.

Netherlands exit from the European Union – Nexit – may start another wave of Bitcoin price growth, same as Brexit did in June 2016.