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Can you break down into the simplest language, what that actually means? How is it superior to existing systems? For what applications?
by canoebuilder 9y ago
Can you break down into the simplest language, what that actually means?
How is it superior to existing systems? For what applications?
- mbrock 9y agoIt's a checkings account for cryptocurrency with spending conditions of the type "4 out of 6 members agree and the weekly spending limit is not exceeded." Since blockchains are open source and programmable, that also means it's a checkings account that you can script in any way you want. It's superior in that it doesn't require a bank. It's also an extremely transparent system, since blockchain transactions are visible to and auditable by everyone, and it has some strong security properties because of decentralization.