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Where is the Bank of England's CryptoCurrency......RS COIN?

Way back in January 2016, China’s National Bank announced it was launching own cryptocurrency. That news was followed by the Bank of England, but ever since, nothing has been heard about these plans.

The Bank of England coin was called RS COIN, which was to be issued on the blockchain network, but with a difference in the sense that RS COIN was to be a centralized cryptocurrency.

Fireinthebone gathered that currency would be controlled by the Bank of England, being the issuer and controller its blockchain network and the encryption key that allows for addition or subtraction of the cryptocurrency from the Blockchain.

RSCoin was to be a radical departure from traditional crypto currencies. It was referred to as a hybrid product of  the distributed model of bitcoin and conventional centralized fiat currency.

In this hybrid model, a central bank delegates the authority of validating transactions to a number of other institutions that are called “Mintettes” ( similar to miners in case of bitcoin and other crypto currencies). These mintettes are known and can be held legally accountable for their actions.

RS COIN was an attempt by the central authorities take control of the bitcoin phenomenon and regulate digital currency in general.  It is a quite acceptance by the authorities that digital currencies are far more better, efficient and cost effective than traditional fiat currencies.

However, two years down the line, nothing has been heard of RS COIN and the question is "Will RS Coin see the light of the day"? 

Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!


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