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bitstream [soylentnews.org] writes:

The Bank of England is collaborating with researchers at University College London to design a Bitcoin clone of its own that can be centrally controlled. The bank is interested in a digital currency that is cryptographically secured [thestack.com]. The resulting system has now been revealed, and is named RSCoin. The system employs cryptographical methods to obviate counterfeiting and tampering. Unlike other mechanisms, the digital ledger used by the new cryptocurrency is handled exclusively by a central body and will only be made accessible to users in possession of a specific encryption key. The RSCoin ledger could be published publicly and allow a central bank to make transactions anonymous to various degrees.

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