BBC Learning English, a department of the BBC World Service founded in 1943 and devoted to teaching aspects of the English language for a foreign audience, has released its latest episode focusing on the adoption of cryptocurrencies.
The 6 minute broadcast touches upon Bitcoin and the origins of cryptocurrencies and spends significant time discussing Facebook’s Libra digital alternative.
While initially simplifying cryptocurrency as “code money” the program goes on to explain that it is “…purely digital and is not controlled by banks or governments but by the people who have it and very complex computer codes.”
The tone of the program carries a largely negative slant on the crypto phenomenon – reflecting the wider scepticism of the mainstream – but goes on to adopt a more positive tone when discussing Facebook’s own involvement, explaining that “A cryptocurrency is normally subject to the whims of crypto markets, which are notoriously volatile, whereas Libra is kept stable by being backed up by a basket of currencies, in this case, the dollar, the pound, the euro and the Swiss franc.”
The BBC has, however, previously reported favourably on the adoption of Bitcoin, particularly its uses cases in countries where the local currency is exposed to high inflation.