Breaking News
15 Years After Occupy, the Case Against the System Has Never Been Clearer
8 Prepper Hacks for Cleaning Without Running Water
The Economy Is Stagnating
Britain To Appoint A Dedicated Tax Agent To Every Single Billionaire
Top Tech News
BEYOND THE MOON: NASA plans a nuclear-powered fleet to push DEEPER into space
Big Oil Backs Mazama's $135 Million Bet On Superhot Geothermal
Quantum compass takes flight on Northrop's Lumberjack drone
Terrifying AI Behavior Even Its Creators Couldn't Explain
WW3 Near-Miss? AI Hallucinated Nuclear Weapons Components Aboard Chinese Vessel Bound For Iran
Stripe Is Building the Toll Road for the Machine Economy
Toyota Dakar hopeful swaps twin-turbo V6 for hydrogen fuel cells
4-min turbo-inflatable cubic camp castle is now available in the USA
Researchers Used Claude To Hack OpenAI Employee Accounts
Chinese Scientists Develop New Oil Refining Method That Cuts Energy Use by 90%
British Virgin Islands Announce US Dollar-Backed Digital Currency
According to a press release on Dec. 3, the currency is part of a broader initiative to grow the local fintech sector and will be presented during the BVI Digital Economy symposium.
The coin will be a stablecoin pegged 1:1 to the U.S. dollar — which the BVI have used since 1959 — and its use is expected to reduce transactional fees, increase transaction speed and be accessible to outsiders such as tourists.
LifeLabs is also developing Rapid Cash Response, a fund meant to provide aid in case of a national emergency. The local government already announced this initiative in April. BVI Premier Andrew Fahie said:
"The importance of blockchain technology and the significant benefits it offers the BVI, are paramount to the Territory. We welcome this innovation with open arms. Our partner, LIFElabs, has demonstrated with their proven track record that their ideology is not just mere words, and we look forward to continuing our partnership with them on the rollout of BVI~LIFE, our digital currency."