Bank of England to Launch its Own Cryptocurrency

Bank of England to Launch its Own Cryptocurrency

The Bank of England has announced a plan to launch its own Bitcoin-like cryptocurrency. The cryptocurrency called RSCoin will also function on Blockchain, the distributed ledger system on which Bitcoin and other cryptocurrencies are built. Radical Shift from Traditional Crypto. Earlier, in January 2016, China’s National Bank also announced plans to launch a virtual currency. RSCoin was originally developed by researchers at the University College of London (UCL) which provides greater centralized control compared to Bitcoin and other cryptocurrencies. “RSCoin’s radical shift from....


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