A new digital currency praised for being ‘unhackable’ has received a ringing endorsement in the UK. AML Bitcoin, which will be launched later this year, has recruited former Erewash MP and Economic Secretary to the Treasury, Angela Knight CBE, to advise on its operations in Europe. The new currency uses innovative ‘anti-money laundering (AML)’ technology to ensure its security and address issues surrounding the vulnerability of online money.
The new technology that powers AML Bitcoin makes it unique in the evermore competitive and crowded digital currency market. Its in-built protections against money-laundering mean that consumers and investors can use it without fear of it being corrupted. Also, the process of using it is incredibly transparent, meaning that it is fully protected against being used for nefarious purposes. In terms of accountability, reliability, and security — AML Bitcoin makes other digital currencies look like small change.
Ms Knight joins AML Bitcoin following stints as the Chief Executive of Energy UK and of the British Bankers’ Association. She also has a background of working with the Association of Private Client Investment Managers and Stockbrokers (now the Wealth Management Association) and is widely considered to be an economic expert. The former parliamentarian also holds a chemistry degree from Bristol University and spent 15 years working in the engineering industry before entering business and public life.
AML Bitcoin is expected to make a considerable impact on the British and international financial markets as more and more business moves into digital currencies. The company is expected to recruit other senior figures from business, finance, and government in the coming period and is well positioned to deal with impending government action aimed at securing digital currencies, especially in the United States of America.
Commenting on her new role as Vice-President for European Affairs, Angela Knight said, “I am delighted to be undertaking this role as an advisor to AML Bitcoin. It’s a hugely exciting time for digital currency and I see AML Bitcoin as being at the pinnacle of the technology, with its enhanced security and anti-money laundering capability.”
The coin itself is expected to launch on October 1 2017 and will be steered by the company that created it, the NAC Foundation. The Foundation’s CEO, Marcus Andrade welcomed Ms Knight’s appointment to her new role saying, “We are excited that Angela has agreed to become part of our expanding team as we look forward to the official launch of our coin. Angela brings an unrivalled knowledge of UK and European banking and finance as well as key political experience and counsel to our team.”
In addition to working with AML Bitcoin, Angela Knight also holds a number of other senior positions, including currently serving as Chair of Tilman Brewin Dolphin and as non-executive director of TPICAP plc, Arbuthnot Latham Ltd, and Taylor Wimpey plc.A