Time to look at another recently released coin, and this time, the spotlight will be on BritCoin. As this is a new digital currency with true British ethics and values in mind, it’s about time o’clock, wouldn’t you agree?
In regards to those good old British values, fish ‘n chips are included. As BritCoin is, despite its name available to mine and trade by people worldwide, the goal is to replace Bitcoin as the leading digital currency in the United Kingdom.
BritCoin is setting the bar quite high for itself, as they are apparently in talk with Bitcoin ATM providers in London. The goal of these talks is to allow users to withdraw BRIT to GBP , as well as the development of existing online payment solutions.
E-Commerce plugins and mobile apps for BritCoin will be funded through their pre-mine. Costs associated with further development , as well as promotion and marketing, will also be funded with this pre-mine. So far, so good if you ask me.
Other plans for BritCoin include developing payment gateways for online retailers and allowing the purchase of BritCoins through fiat directly. Assuming they can pull this off, even on a small scale, things could get very interesting in the UK.
Let’s take a look at BritCoin’s technical specifications :
60 second block time
PoW + PoS Hybrid
PoW Ends at Block 20,000, estimated 7-10 days mining
10 Million Coins estimated in PoW phase (20 million total supply)
12 hours min stake age
5% Annual Interest on Staked coins
1% Premine for Bounties, Competitions and Giveaways
With BritCoin’s Proof-of-Work phase ending very soon, things could become very interesting to determine the future of this digital currency. As the coin is currently not on any major exchange, there is no point in speculating about its value at this point.
You can trade BritCoin at some of the smaller exchanges however, as it is listed as a trading pair on AllCoins, C-Cex and BleuTrade.
We will keep an eye out for any updates and developments from the BritCoin team, and keep our readers updated accordingly.
BritCoin donations : B9cFfXcsQPFwKUgME2hhDDsdBMhwtqKh9x