[2016-03-10] Softpedia: Bank of England Is Preparing to Launch Its Own Bitcoin..

[pawel7777]

Bank of England Is Preparing to Launch Its Own Bitcoin Version Called RSCoin

http://news.softpedia.com/news/bank-of-england-is-preparing-to-launch-its-own-bitcoin-version-called-rscoin-501598.shtml

England's central bank has announced plans to launch its own Bitcoin-like cryptocurrency, which will be named RSCoin and will function on the same blockchain ledger technology that powers Bitcoin.

With more and more news articles about the financial sector and government institutions taking a close look at how blockchain tech could be used for various types of record keeping and data storage operations, it should not be a surprise that somebody has finally taken the first step.

The Bank of England has shown an interest, alongside other banks, in Bitcoin technology for quite some time now. While other banks decided to hire R3 to carry out research work regarding blockchain technology, the Bank of England thought it would be a better idea to ask local researchers from University College London.
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[Lethn]

This key would allow the bank to add or subtract cryptocurrency from the ledger, as a way to control the blockchain's total size and to follow national and international financial regulations put in place after the most recent financial crisis from 2008.

If they trade this on the open markets they're completely done for

Is this actually real? I think I'd need to see more mainstream confirmation before I believed it, this could be some crappy altcoin that's trying to pretend to be the Bank of England and get media attention.

[notthematrix]

Can Trust-Based Private Blockchains Be Trusted? http://coinde.sk/1TWMCdr 
Best explanation of & defense of proof of work I've read.
Answer No it can't.

[a7mos]

"its own bitcoin" is not related to bitcoin at all. some media call any cryptocurrensy bitcoin as they do not know the differences
So we should not care about that altcoin created by bank. so it seems it will be centralized.

[Pkzone]

Yes, a altcoin which is made by a bank is centralized ofcourse.
And bank of england: look at this, bitcoin is decentralized (till date) and if you launch a centralized coin with the name of bitcoin (a decentralized cryptocurrency) you are going the wrong way, the community shouldn't (but will?) accept it.

[1Referee]

It's just an altcoin that they launch for testing purposes within their small circle of corrupt people. It will work, there is not much about it that doesn't work. If you buy an altcoin for 0.1BTC or even cheaper, it will work too. They don't have to hire very expensive people for that. J/K.

[notthematrix]

Yes, a altcoin which is made by a bank is centralized ofcourse.
And bank of england: look at this, bitcoin is decentralized (till date) and if you launch a centralized coin with the name of bitcoin (a decentralized cryptocurrency) you are going the wrong way, the community shouldn't (but will?) accept it.

Its like MINITEL , and VIDITEL ,  and compuserve ......
against the internet in the 90ś 
they were al restricted , it wont work.... people will not accept it.
because bitcoin does not need a ID card to use it
As does the internet does not need one.
also writing things in red will not help....
Just chack bitcoin and seragted withness

[aso118]

I don't see how it is different from the electronic money of today - RS Coin is centralized; the ledger is controlled by the central bank and a few others. I am not even sure if the ledger is going to be private or public. 

Another article on the same news
https://www.technologyreview.com/s/600980/a-bitcoin-style-currency-for-central-banks/

[offlinedragon]

it would be a weak imitation if they don't follow the main principles of bitcoin in privacy and anonymity, would be interesting to see something like this in c-cex or any exchange

[indiemax]

I don't see how it is different from the electronic money of today - RS Coin is centralized; the ledger is controlled by the central bank and a few others. I am not even sure if the ledger is going to be private or public. 

Another article on the same news
https://www.technologyreview.com/s/600980/a-bitcoin-style-currency-for-central-banks/

Knowing banks ,it would likely be private for confidentiality reasons 

Best this is pushed where the sun don't shine

[European Central Bank]

I'd love to sit down with some of these guys and figure out whether they know what the hell they're talking about. Their money's already electronic. There's zero need to take it any further.