The British Pound (GBP) is crashing hard, thanks to Great Britain’s financial “geniuses.”
The UK government took a huge gamble, aimed at rescuing the economy from recession, by announcing the biggest tax cuts in 50 years at the same time as boosting spending.
Somehow, that move sent the GBP dropping by a further 5%, with a loss against the USD standing at 21% this year.
Following the recent Euro drop that hit parity in August before dropping to 96 cents to the dollar, industry leaders Sedo are considering some simplification of payments.
“It’ll be easier to just take in payments in US dollars, as both the Euro and the British Pound are facing an unprecedented drop,” said Sedo Manager of Forex Equity, Markus Baumeister.
“The dollar is strong, naturally, but we also are adding a new token for Sedo customers, stay tuned!”
So there you have it: Sedo plans to switch to the US dollar but also introduce Sedo tokens, called Sedo Streusel. One Sedo token will be equivalent to $0.001 dollars.
Sedo Streusel token – a prototype
Domain investors who in the past listed their domains in auction in EUR and GBP to benefit from higher exchange rates to the US dollar might be disappointed by the scheduled removal of these two currencies.
To soften the blow, Sedo plans to issue a whopping 10 Sedo Streusel tokens for every domain listed in a live Sedo auction.
Now that’s some amazing news!
The Streusel is a good name but kind of makes me hungry for pastries. Might be distracting while I am buying and selling domains. I would have preferred Sedo calling the new money SEDOUGH. Wait now I’m hungry for pastries again.
Jay – No doubt, any German pastry name would be great but the coins are not edible. Keep selling domains (doughmains?) on Sedo and get rewarded. PS Sorry to the Brits.
Sedo Euro Streusel Germany …Its all Greek to Me