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The public image of bitcoin, cultivated by the media, is of the international criminal’s currency of choice – an anonymous, untraceable means of laundering proceeds of crime. This has made for compelling column inches, but the opposite is true.
If you’re anything like me, in various accounts online you’ll have some pounds, some airmiles, some supermarket rewards points, perhaps even some dollars or euros. These are all forms of money – they’re tokens that can be exchanged for some kind of good or service.
Lending to SMEs, or rather the lack of it, is one of the biggest impediments to a healthy UK economic recovery. Up until now, the Government has been relying on the methadone treatments of QE and the Funding for Lending Scheme (which, to date, has only served to boost the housing bubble) to keep our low-interest-rate-drug-addled economy going.
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