Will Thomas, founder of Britcoin, gives us a deeper look into the ever growing popularity of national cryptocurrencies and why they’re important to people. We’ll also take a look at the path Britcoin has taken and what the future might hold. We’ll meet the developers to find out what exactly makes this coin tick.
Previously, CCN has had Britcoin as the Random Coin of the Day. If you’d like to learn even more about Britcoin, such as mining information and where you can trade the coin, have a look.
Britcoin Exclusive Interview
Why is a national cryptocurrency necessary?
We believe national crypto currencies are the future for consumer, business and personal digital payments. With Bitcoin eventually becoming the default global reserve crypto currency, if you will, like the USD currently is. The reason we believe [that] is due to the 100’s of new coins that have emerged in the years since the launch of Bitcoin. Each [coin] has added something or changed something. Think of these [coins] as prototypes, with practically each coin improving in some way, or another, be it in much lower transfer times or PoS distribution system[s].
Eventually, the cycle of boom and bust for new coins will come to an end, and people will lose all faith in them, it’s then we think that users will fall back on to their ‘national’ coin. Whatever each country decides to adopt, it may not have the country name in the coin like BritCoin does. Why? Despite all the modern technology and mass communication available today, people are still instinctively tribal in some way or another. We think the British public would prefer a British crypto currency over [an] international one just because it’s British.
You mentioned you’ll be producing an August white paper. Will this be a monthly released progress report on the coin and it’s future direction?
Yes, it will. Due to be published on the 15th of August it will outline our progress since our last white paper (published last July) and go into detail about our many [exciting new] developments such as cool new wallet developments, launching our BritCoin marketplace and our marketing campaign plans. Plus a lot more.
What progress did you make last month? (July) How will this help the coin’s longevity?
- A relaunch of the BritCoin.io website with [an] integrated block explorer
- The launching of our Fiat to BritCoin exchange platform, BuyBritCoins.com
- Releasing version 1.1 of the BritCoin wallet which includes a new UI and statistics
- Publishing our first press release which was picked up by major media outlets such as the International Business Times and Yahoo News
- Published in multiple crypto currency news outlets
- New team member Lee Exley joining us doing PR/Media
- [The] huge surge in the price, increasing from 150 [Satoshi] to over 1,000 within one week reaching over $80,000 market [capitalization]
We’ve come a long way in a short amount of time, which I’m very thankful to the rest of the BritCoin team and the community. I think we’ve managed to attract quite a number of buyers who are not looking to make a quick buck, but hold their coins and promote the coin, believing in rewards further down the line as opposed to quick gains. It’s still very early days for BritCoin, just over [six] weeks since launch so I think we’ve had a good start and know there’s still a lot to be done to get to [the] point where the British general public get on board with us.
Who are the coin’s developers?
BritCoin has [four] full-time [developers] working on the coin. Coin development [is done] by Steven Russell, design [and development] by Christian Bendiksen, and Lee Exley [is] in charge of PR [and] Media. [I’m] a founder and a bit of everything else. We also have many community members who help out in some form or another, so quite a lot [is] going on behind the scenes, [and it’s great.]
Disclaimer: I do not own any Britcoin, and I’m not affiliated with Britcoin.
Photo courtesy of Britcoin