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www.gov.uk/hm-treasury-----Original Message-----
From: Spencer Lievens [mailto:spencerlievens@gmail.com]
Sent: 06 August 2014 12:23
To: OSBORNE, George
Subject: Bitcoin interest and a new UK cryptocurrency
Dear Mr Osbourne,
I am writing to yourself as I see you have personally attained an interest in Bitcoin and the blockchain technologies.
The realisation that the UK should fully embrace cryptocurrencies is not an ideal shared by the few but by the many even if the many are unaware of, or unknowing of the technology and ideals behind cryptocurrency.
The people (as I am sure you are aware because of the position you hold in government) are of the general consensus that the banks are untrustworthy, charge too many fees, limitations on transfers, and are simply stuck in the dark ages technologically, they are correct.
There is are issues however with Bitcoin:
1. Predominantly the Bitcoin usage is concentrated in America.
2. 90% of the Bitcoin that will ever be available is already out and in circulation, mainly in the crypto community.
3. Transaction times are fast but full confirmation can take up to 2 hours.
4. Too many large bag holders that are not UK/European residents.
What I would like to introduce to you is Sterlingcoin which is targeted at the UK & British Isles.
http://sterlingcoin.org.ukThis new cryptocurrency will be launched on the 20th of September 2014.
Already with 3 merchants in Brighton & London in the UK.
Unlike Bitcoin users will be able to earn interest on their savings at 5.5% a.p. which is 0.5% higher than any high street bank or building society.
Transfers take seconds to arrive and 20 minutes to fully confirm, unlike Bitcoin which I mentioned previously can take up to 2 hours.
The main plus to Sterlingcoin is the fact that we are in a pre-launch state for 7 weeks to allow us to put all the systems in place online, merchants to accept the currency, exchanges to transfer between FIAT and other cryptocurrencies and various other systems which can all be found on our site.
We are the first cryptocurrency ever to launch with all services and merchants in place and the first to have iOS and Android wallets apart from Bitcoin. As you can appreciate 66% of the smart phone market is held by Apple so having the Sterlingcoin wallet available for iOS is a must.
We look forward to hearing from you,
Spencer Lievens
Developer
Sterlingcoin
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