Shift to digital currencies threatens financial stability, warns Bank of England

The proliferation of new cryptocurrencies could pose a threat to financial stability if they prompt large numbers of households to pull deposits from commercial banks, the Bank of England has warned.

Threadneedle Street said that it had modelled a scenario where about fifth of all household and non-financial corporate deposits in Britain shifted into new forms of cryptocurrencies, including central bank-backed digital money and other highly regulated cryptoassets. It suggested that the introduction of any currencies would need to be tightly controlled to avoid widespread disruption at commercial banks.

“There is a strong case for considering the value of transitional arrangements that aim to ensure that new forms of digital money can emerge without threatening monetary and financial stability,” the Bank said in a discussion paper, adding that “the banking sector could prove unprepared to withstand large outflows of deposits”.

The rise of bitcoin and other types of cryptoassets has … Read more

How to Manage Negative Reviews on Amazon

Any product gets negative reviews at least occasionally. These are more harmful than you may think. When users make a decision, they usually scroll straight to the criticism to understand what issues they could face. One bad comment may deter hundreds of potential buyers. So, what should you do about negative feedback on Amazon?

Bad reviews lead to a decline in sales. Unless you have an all-in-one Amazon review management tool, dealing with critics is a big challenge. Here are a few possible measures.

What You Should Never Do

Asking customers to change their rating violates Amazon’s policies. You are not allowed to ask for review modification, even after solving the problems described. Yet, this is exactly what some sellers used to do, and this inevitably got them into trouble.

If you do not want your account to be shut down, play by the rules. The company may also sue … Read more

Regus owner IWG says new Covid variants will push profits lower

IWG, the world’s largest flexible space provider, has said lockdowns and new Covid variants will push profits this year “well below” 2020 levels.

The company, formerly known as Regus, reported a £620m annual loss for 2020, when its finances were hit by social distancing rules, and working from home resulted in empty offices.

The UK-listed company, which is headquartered in Switzerland, reported strong recovery in some markets including the US. However, occupancy levels across the whole group were lower than expected because of “the prolonged impact of Covid-19, including continuing lockdown restrictions and the emergence of new variants of the virus in some markets”.

“Accordingly, this will delay the anticipated recovery in our business and, given the operational gearing of the group, is expected to have a significant impact on the group’s results for 2021,” IWG said, adding that underlying earnings would come in “well below the level in 2020”.… Read more

Crypto gaming as a new key to the mass adoption

Even though cryptocurrencies have become more popular than ever before, we are still away from mass adoption. Even if we believe that’s gotten popular, if we analyze it based on the entire population, you will find that crypto enthusiasts are still a minority.

How can we change it? How can we get more people to purchase bitcoin and other cryptocurrencies? How can we get them involved? The answer might reside in gaming, and this is the issue that we will discuss today.

We already have seen real use cases for blockchain tech, but they can be obscure because they are too technical for the average folk. However, with gaming, it’s a totally different story. Let’s check how it’s already helping to bring crypto to the masses.

Why is gaming a key for mass adoption?

According to the experts, gaming will be the first industry that will give blockchain tech a

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Bad Business Ideas For The 2020s

Being an entrepreneur is a double-edged sword. The positive side of becoming one is that you have the ambition and drive to work for yourself and forge your own way in the world. The flip side is that no amount of passion, drive, intelligence, or persistence will do you any good if you’ve picked a bad business idea to devote your time to. Although figures differ from survey to survey, there are some studies that suggest up to 90% of new business start-ups will fail within their first three years. More often than not, the business was doomed from the day it opened its doors because of a poor choice of function or industry.

If you spend a lot of time on new business or entrepreneur-focused websites, you’ll have seen plenty of articles offering advice on what kind of business is likely to succeed here in the 2020s. There are … Read more