Breaking News
Donald Trump's Energy Department Saved Your Appliances
World's Smallest Pacemaker is Made for Newborns, Activated by Light, and Requires No Surgery
Wind/solar motorcycle looks like an April Fools' joke ... but it's legit
Barrel-rotor flying car prototype begins flight testing
Top Tech News
Watch the Jetson Personal Air Vehicle take flight, then order your own
Microneedles extract harmful cells, deliver drugs into chronic wounds
SpaceX Gigabay Will Help Increase Starship Production to Goal of 365 Ships Per Year
Nearly 100% of bacterial infections can now be identified in under 3 hours
World's first long-life sodium-ion power bank launched
3D-Printed Gun Components - Part 1, by M.B.
2 MW Nuclear Fusion Propulsion in Orbit Demo of Components in 2027
FCC Allows SpaceX Starlink Direct to Cellphone Power for 4G/5G Speeds
How Big Tech Plans To Read Your Mind
AI, Nature & Legal Personhood
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."