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Author Topic: London has been the most popular location for fintech companies, yet...  (Read 623 times)
MightyStorm
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June 10, 2015, 06:33:06 AM
 #1



... some choose to leave, because of the bill which requires that UK companies implement state-mandated
backdoors in all cryptography, and that telecommunications providers retain user data for 12 months.
It gives the government the power of surveillance, and requires startups to hand over information for inspection.

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June 10, 2015, 07:50:42 AM
 #2

london want to promote themselves a central hub for bitcoin and maybe for crypto in general, they are working on regulating it, maybe with something like bitlicence but better, seeing how bitlicens is causing some chaos and confusion(an article is talking about is on coindesk)
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June 11, 2015, 12:21:09 AM
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london want to promote themselves a central hub for bitcoin and maybe for crypto in general, they are working on regulating it, maybe with something like bitlicence but better, seeing how bitlicens is causing some chaos and confusion(an article is talking about is on coindesk)

The UK bitlicense (if and when it happens) might be worse then the NY one. These kind of actions (forcing companies to implement backdoors in cryptography) do not inspire confidence.


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June 11, 2015, 09:47:05 AM
 #4

london want to promote themselves a central hub for bitcoin and maybe for crypto in general, they are working on regulating it, maybe with something like bitlicence but better, seeing how bitlicens is causing some chaos and confusion(an article is talking about is on coindesk)

The UK bitlicense (if and when it happens) might be worse then the NY one. These kind of actions (forcing companies to implement backdoors in cryptography) do not inspire confidence.

This kind of laws might make the whole idea of some startup worthless.
Big Brother is watching you.... drives me up the wall, WTF?
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June 11, 2015, 10:34:09 AM
 #5

It'll be interesting to see how this proposed bill pans out. Like many a law, they start off with grand statements and when they actually get down to the nitty gritty they realise they can't actually do fuck all without destroying vast swathes.

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June 13, 2015, 06:16:28 AM
 #6

Most popular location in the UK? Europe? Any more details?

Outside of Silicon Valley I could agree that London might be a high fintech location.

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June 13, 2015, 05:41:55 PM
 #7

I don't see London as a prime location for starting a business because you cannot start small there. You'll need plenty of money to get an office, and to pay workers. Even a secretary is expensive in London. There's money around, no doubt about that, but you'll need to make lots of it right away to cope with your expenses.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
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