There's a new virtual currency on the market and it's called BritCoin.

William Thomas, who is BritCoin's creator, told the International Business Times in an interview that this new virtual currency is meant to correct some inherent flaws with Bitcoin such as "slow transaction times, monopolies of mining hardware and risks of 51 percent attacks."

"Britcoin was launched to address these issues, ensuring there is more security and a fairer distribution of minted coins for users," Thomas told the Times. "Furthermore, our mission is to create a recognisable and trusted brand that upholds British morals and values of trust and honesty."