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This petition was submitted during the 2019 to 2024 Parliament

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Closed Adoption of cryptocurrencies as a reserve currency

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The Bank of England and HM Treasury must adopt a range of cryptocurrencies to their international currency reserve portfolio. UK institutions have ignored and refused to accept the benefits of cryptocurrency and blockchain technology.

The benefits of cryptocurrencies and blockchain technology can no longer be ignored. Gold, a slab of metal, as reserve currency is heavily outdated. Unlike gold or foreign currency, cryptocurrency cannot be faked, cannot be stolen, does not require heavy physical security, can be easily transferred and can be produced whenever needed. With the impending impact of the pandemic on the global economy, cryptocurrencies are an effective hedge against inflation.

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    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 3 September 2021.