The road to the creation of Britcoin began in 1694 when the Bank of England was founded and government put full control of our finance in the hands of small group of private shareholders. The Britcoin network was launched in 2014 with the aim of providing a fair and free alternative to current financial systems.
In 1999 the renowned economist Milton Friedman made a prediction that due to the exponential growth of the internet useage we would one day have what he called E-cash. Electronic cash that was decentralized and free from government control, using the internet as a vehicle to send and receive transactions with no 3rd parties involved. Fast forward to 2008 a white paper was released by Satoshi Nakamoto outlining how this was possible using advanced cryptography and a peer-to-peer distributed database know as the blockchain, since then cryptocurrency has grown and developed leaps and bounds.
In mid 2014 a small group of British cryptocurrency enthusiasts came together to create Britcoin, taking Satoshis blueprint and improving on it in a number of ways. Britcoin uses improved cryptography to secure the network with a Proof-of-Stake system to verify transactions, this enables Britcoin users to earn 5% annual interest on their Britcoins in return for helping the network. Unlike a global cryptocurrency such as BTC or ETH, Britcoin can reach consensus and improve the network without the typical roadblocks that have appeared with other networks, with different interests causing friction at every turn.
Britcoin was launched with one simple goal. Allow British people to transact value with each other without any 3rd parties involved, whether that means private banks or government. The entire project is Open-Source and can be reviewed and improved on by anyone who has an interest in doing so, if you'd like to help in any way then get in touch via the contact page and let us know.