What is ‘Britcoin’, when is the Britcoin launch date?

“Britcoin”. Well, it’ll be absolutely nothing like Bitcoin, that’s for sure. But another step towards an expanded economy for folks in the UK…right? But what is “Britcoin”?

And will it be like Bitcoin, or something completely different?

Well — turns out that the UK had already invented a Britcoin cryptocurrency to get around moving money on official exchanges — but after failing to be adopted, with barely anyone on the exchange, it fell out of the market and was delisted.

So what’s next for Britcoin? When will Britcoin Mk II launch?

Photo by Lucas Davies on Unsplash

The idea of Britcoin — the “Digital Pound”

The idea behind “Britcoin” is that instead of a cryptocurrency with relative autonomy of function and use — much like cash — it would be a CBDC, which is not autonomous for users, but instead controlled by a central bank.

This is the primary function of a CBDC like Britcoin: centralised control of not only currency value, but the use of your money.Every purchase, every transaction: watched in detail.