Dominant Social Theme: Bitcoin could be the next national money. Free-Market Analysis: We don't see how central banks can issue bitcoin-style cryptocurrencies without compromising most or all of the features that make it attractive. Bitcoin is neither issued nor backed by one central authority, as modern fiat is. Bitcoin is anonymous in an era when central banks and banking facilities are insisting on full transparency. It is not infinitely print-able either – there is a cap on it, though there are divisibility possibilities to be sure. We have an idea as to what Bank of England has in mind, however. First, a little more: The arrival of electronic currencies could revolutionise the way Britons pay for goods and services, in much the same way as the internet shook up how we access information, the Bank of England has said.