Bitcoin - The two-day Virtual Currencies Round Table from 17-18 February 2015 will gather a wide range of expertise from Interpol, Europol and IMF
19 February 2015, 09:11
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The Commonwealth Secretariat says that it is exploring the potential of
virtual currencies including of Bitcoin and for that international
experts and representatives of Commonwealth governments will meet soon.
They will explore issues around the rapid development of virtual
currencies, and identify potential benefits they could offer to
developing countries.
In the press release, the Commonwealth Secretariat informs that virtual currencies are digital representations of value that can be traded and exchanged between online communities. According to the organization at present, there are no internationally agreed standards or rules that apply to these currencies.
According to the press release the two-day Virtual Currencies Round Table from 17-18 February 2015 is gathering a wide range of expertise from Interpol, Europol, IMF, the United Nations Office on Drugs and Crime, and high-level Commonwealth government representatives. It is part of the Commonwealth’s flagship Commonwealth Cybercrime Initiative.
The two-day hearing is aimed to identify how the nascent technology might benefit consumers in the developing world. Nonetheless, called the ‘Virtual Currency Round Table’, the two-day event will feature representatives from Europol, the International Monetary Fund (IMF), Interpol and the United Nations Office on Drugs and Crime.
Talking to media professionals deputy secretary general of the Commonwealth Secretariat Josephine Ojiambo indicated that the intent of the meeting is to highlight the benefits of Bitcoin and other digital currencies, while also noting the risks involved. He added that this meeting will help member countries guard against risks.
He also cleared that the attendees will talk and identify ways virtual currencies can contribute to future social and economic development and according to him at the end of the two-day event; the Commonwealth Secretariat will issue recommendations that would inform a “next phase” of research in the area.
In the press release, the Commonwealth Secretariat informs that virtual currencies are digital representations of value that can be traded and exchanged between online communities. According to the organization at present, there are no internationally agreed standards or rules that apply to these currencies.
According to the press release the two-day Virtual Currencies Round Table from 17-18 February 2015 is gathering a wide range of expertise from Interpol, Europol, IMF, the United Nations Office on Drugs and Crime, and high-level Commonwealth government representatives. It is part of the Commonwealth’s flagship Commonwealth Cybercrime Initiative.
The two-day hearing is aimed to identify how the nascent technology might benefit consumers in the developing world. Nonetheless, called the ‘Virtual Currency Round Table’, the two-day event will feature representatives from Europol, the International Monetary Fund (IMF), Interpol and the United Nations Office on Drugs and Crime.
Talking to media professionals deputy secretary general of the Commonwealth Secretariat Josephine Ojiambo indicated that the intent of the meeting is to highlight the benefits of Bitcoin and other digital currencies, while also noting the risks involved. He added that this meeting will help member countries guard against risks.
He also cleared that the attendees will talk and identify ways virtual currencies can contribute to future social and economic development and according to him at the end of the two-day event; the Commonwealth Secretariat will issue recommendations that would inform a “next phase” of research in the area.
