A Bitcoin-Style Currency for Central Banks — Tom Simonite
www.technologyreview.com

[R]esearchers have invented a Bitcoin-like system that could make digital cash more practical by allowing a central bank such as the Federal Reserve to control it.

The system, RSCoin, was designed by researchers Sarah Meiklejohn and George Danezis at University College London, at the suggestion of the U.K.’s central bank, the Bank of England. …

RSCoin’s ledger is solely in the hands of the central bank, which would also retain a special encryption key that could be used to control the money supply — for example, to take actions like the quantitative easing programs the Federal Reserve and other central banks put in place after the 2008 financial crisis.