The Vanbex Report: RSCoin and the Brexit Effect
Mar. 22, 2016 — Researchers and academics across the Isle are proposing the use of its own cryptocurrency, RSCoin. The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers. The proposal, first presented by University College of London researchers, also comes at a time when communities across Britain are weighing whether or not to depart from the European Union (EU) knowing it will disrupt, among other items, trade agreements and potentially the UK’s position as a hub for FinTech innovation.
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RSCoin, a cryptocurrency controlled by the Bank of England for the purpose of strengthening the country’s economy and global trade, combines the benefits of distributed ledger technology with the control of traditional, centrally managed currencies, according to The Deal Room, a financial news website. RSCoin was developed by University College of London researchers at the central bank’s suggestion. While RSCoin uses cryptography – making it tamper-proof and resistant to counterfeiting – the digital ledger used by the newly-developed cryptocurrency is entirely held within the confines of....
The Bank of England (BoE), the central bank of the United Kingdom has sought a digital currency of its own. A centralized, completely central-bank controlled bitcoin clone in the form of a cryptocurrency called RSCoin. While financial institutions such as securities exchanges are openly favoring and investing in blockchain technology, central banks are going a step further in borrowing from bitcoin technology. Several central banks, including the recent prominent example of the People’s Bank of China, have revealed plans of developing their own digital currency. A report in the MIT....
Mar. 29, 2016 — On Wednesday (Mar. 23), Russia’s ministry of finance continued on with its pursuit to outlaw the world’s top cryptocurrency, Bitcoin (BTC). The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers. This time, the new draft for the official banning of the production and circulation of BTC comes attached with punitive damages that could range from million ruble fines to up to seven years in jail and the ceasing of business operations.
On February 21, 2016, the Bank of England reported that it had partnered with researchers at University College in London to produce RSCoin, a digital currency designed for central bankers. Sarah Meiklejohn and George Danezis, two students from University College, created RSCoin which, they announced, offered a protocol superior to that of Bitcoin. The researchers said their work was a response to Bitcoin’s limited transaction throughput, which is capped at around seven transactions per second today based on the 1 megabyte block size limit and current network conditions. In comparison,....
Mar. 14, 2016 — Has the conversation evolved already? Amid the blockchain technological push, another variation has emerged — the “tangle.” The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers. The Tangle or Directed Acyclic Graph (DAG) chain essentially means a collection of nodes or vertices, while allowing connectivity between nodes but with no circular edgings. In other words, you cannot start at one vertex and eventually loop back to that same vertex via a sequence of edges (connections).