http://bravenewcoin.com/news/53-commonwealth-states-urged-to-explore-benefits-and-regulate-bitcoin-and-blockchain-technology/In addition to extolling virtues such as helping the unbanked, fee reductions, and enabling micropayments, bitcoin was mentioned for its use as a common global currency.
Bitcoin functions as a global currency that can avoid exchange fees, is currently processed with lower fees/charges than traditional credit and debit cards, and may potentially provide benefit to existing online payment systems, like Paypal. Virtual currency may also facilitate micro-payments, allowing businesses to monetise very low-cost goods or services sold on the Internet, such as one time game or music downloads.
The Commonwealth of Nations is an intergovernmental organization composed of 53 Nations that are or used to be part of the extended British Empire. Nearly one-third of the Earth's population belongs to a Commonwealth nation, including the United Kingdom, India, Canada, Australia, Malaysia, and many African, Caribbean, and Pacific Islands nations. Although they work closely with the UN, the IMF, and the World Bank, the United States is not typically represented at Commonwealth meetings.
