The popular offshore announced creation of the cryptocurrency to refuse dollar

At the beginning of December, 2019 the British Virgin Islands announced creation of own cryptocurrency — BVI ~ LIFE to refuse use of U.S. dollars. As the contractor in this project the LIFELabs.io company acts.

It is expected that BVI ~ LIFE will accelerate cash transactions, will reduce the transfers commissions and will provide to tourists simple access to local currency. The rate of BVI ~ LIFE in relation to US dollar will be one to one.

The British Virgin Islands announced creation of own cryptocurrency — BVI ~ LIFE to refuse use of U.S. dollars

Besides, BVI ~ LIFE will help work of fund as the victim of a natural disaster of Rapid Cash Response: thanks to digital currency the population which got into trouble will be able quicker to receive financial aid.

Earthquakes and a tsunami often cause interruptions in cellular communication. In LIFELabs.io consider this fact and conduct negotiations on an occasion of the solution for abnormal access to cryptocurrency with telecommunication operators.

The blockchain technology and those advantages which it provides BVI are extremely important for us — the prime minister of the country Andrew Fahie says. — We welcome these innovations with open arms. Our partners from LifeLabs showed all the history that their ideology is not just words. We hope for continuation of our cooperation with them in start of our digital currency "BVI ~ LIFE".

As notes the Bloomberg agency, on the British Virgin Islands one works their most liberal legislations in relation to a virtual currency in the world, Bloomberg notes. In the territory are registered the issuer of one of often digital currencies which are most used in the world tied to dollar, Tether and the Bitfinex exchange. It does the Virgin Islands by one of the world's largest markets of cryptocurrencies in dollar volume, adds the agency with reference to the managing director of assets CoinShares company.^[1]

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