Bank of England working on Bitcoin alternative RSCoin

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Bank of England working on Bitcoin alternative RSCoin

Post  Sirop14 on Tue Mar 15, 2016 2:36 pm

Bank of England working on Bitcoin alternative RSCoin
Partners with UCL researchers for central ledger technology.
The Bank of England has partnered with researchers at University College London to help it create a centrally controlled digital currency.

The newly-developed RSCoin uses cryptography to combat counterfeiting, and unlike the technology underpinning Bitcoin, the blockchain, RSCoin is controlled by a central body.

Blockchain is distributed ledger technology where a network of computers record transactions. Each computer must approve a transaction before it is recorded in a new "block".

In a 2015 paper [pdf], UCL researchers Sarah Meiklejohn and George Danezis envisage that monetary policy for RSCoin would be controlled by a central bank.

The technology itself would be reliant on a distributed set of authorities - like commercial banks - to prevent double-spending, Meiklejohn and Danezis wrote.

" ... central banks maintain complete control over the monetary supply, but rely on a distributed set of authorities, or mintettes, to prevent double-spending. While monetary policy is centralised, RSCoin still provides strong transparency and auditability guarantees," the paper states.


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Sirop14

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Re: Bank of England working on Bitcoin alternative RSCoin

Post  Sirop14 on Wed Mar 16, 2016 12:56 pm

There used to be a Famous English King who pronounced flowers "fliowers" his former Hampton Court Royal residence. The relevancy/need to restructure our Sechelles Seychelles Europe - Indian Ocean working come a change and different government. What individual will/can and may do over a bunch of "fliowers". The mega debacle that Hampton Court would have been the Home of Princess Diana and the why's - those who have forgotten and choose to forget - Mrs Jemaima Goldsmith Khan current Home. Why in the first place Lady Thatcher completely rebuild Kingston Upon Thames Town.

The debacle of the ECU - then Hampton Court/then high personalities. The future EU/Europe currency. Those who had been pressing that Princes Diana get the hell out of Britain and settle in France - linked among other to the ECU debacle/the why's.

Back/to remind those around Lady Thatcher, President Reagan - there was not supposed to be just the ECU - the world wide web connectivity had been made, President Reagan and the Unique IT Center he visioned in USA. The concept and development of E- currencies/money. Lady Thatcher and those who surrounded her judge/thought we were bonkers - given the fiscal/monetary system of Britain Central Baking. In the first place she total opposed the ECU.

Time and time have requested for the past 20 years the UN or EU or OAU/AU help review that SIROP program - among some of the thematic they would have had to tackle the debacle of future currency and money system - which would have been required to work with the new economic, social and democratic changes - much more. .this Program was required to make/bring about ( Instead the many new Financial structures, system they deployed and the end results - Lady Thatcher/Ministers/Cabinet and Institutions core thinking) Seychelles complete nutcase Stock market/Exchange system and those of Mauritius and Palestine. They will need to radically rework that topic Seychelles and Palestine prospective.

What we are trying to say in short - had Princess Diana migrated to France, the European and world monetary system would have been very very different today - the announcement that the British Central Bank may consider the BITCOIN as major e-currency system. Main stream politic attitude - with those experimenting- they want the Google and the Yahoo. How the ECU started out.

It is nice to note Mr Guy Confait mad Coco de Mer posting this morning in Sechelles Seychelles our white, pink lilies grew wild. President FA Rene Old grey Jaguar and the Duchess of Cambridge costume grey Costume 15/3/2016


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Craig Wright U-turns on pledge to provide evidence he invented bitcoin

Post  Sirop14 on Thu May 05, 2016 2:26 pm

Craig Wright U-turns on pledge to provide evidence he invented bitcoin

Wright, who claimed to be Satoshi Nakamoto, bitcoin’s creator, says he is ‘sorry’ and ‘does not have the courage’ to proceed further with his claims

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