Capital Idea: City BANS all cash and launches own cryptocurrency | City & Business | Finance
(WorldNews Business)

Now it has announced it will dump recognised legal money and instead adopt City Coin as its official currency. A form of digital cash, cryptocurrency uses encryption to secure transactions and control the creation of new units. It uses cryptography, a form of secret coding originating from the Second World War, to process transactions securely. Its major appeal is it is independence from established financial systems. A spokesman said: `City Coin is a...