RSCoin this is the new cryptocurrency that the Bank of England is working on.
But over the years many banking institutions have been showing interest in the blockchain technology behind the bitcoin.
The researchers stated that they have tested RSCoin on 30 servers inside Amazons cloud computing service.
The new initiative by Bank of England has been welcomed by all but a few issues remain.
RSCoins supply will be controlled by the bank which can harm its valuation.
Over the years Bitcoin has gained reputation among users as well as its harshest critics.
It remains to be seen whether a controlled cryptocurrency like RSCoin can gain similar momentum as bitcoin.
source: www.techworm.net
