[NEWS] RSCoin – new digital currency platform for banks? [MAR 16]

• Editor in Chief


• 12 Mar 2016

Bank of England is trying to create a bitcoin alternative to be used as a digital currency platform for banks. What banks do nowadays? They want to have their own digital currency platforms or to invest in blockchain and Bitcoin. This is another possibility – to use RSCoin. It is available on github. Platform creators are: Sarah Meiklejohn and George Danezis (2015 paper).

Now the interesting part 🙂 Monetary policy stays centralized, controlled by BoE, but there is a strong transparency, paper claims. Sarah said the system’s design would also allow a central bank to make transactions entirely, or partially, anonymously. – So it`s like: here is the transparency if we want to give you, when we want it and how we want it… Nothing much on transparency side…

So is there a benefit with scalability and stability that the new platform has? IMO, scalability – sure. Stability – I am not so sure 🙂

Source: itnews.com.au

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