3 ms·
Periodic release is the problem; I'm tempted to suggest that what's needed is a currency consisting of a set number of coins all released at one moment by a gov
by Nomentatus 9y ago
Periodic release is the problem; I'm tempted to suggest that what's needed is a currency consisting of a set number of coins all released at one moment by a government or large corporation or institution but not thereafter controlled by said entity.
A minor variation would have that entity retain ownership of most coins - which are released and in its wallet - to spend over time. Let's say, a United Way issued coin 10% of which was spent (auctioned for contributions in dollars) each year for ten years. After which point, the coin would be free of any connection to the United Way.
But there has to be a small charge, in work, to keep your coins valid in order to maintain the blockchain/shared ledger. Weirdly, this has sorta been tried with a real currency, Alberta (Canada)'s "Velocity Dollar." It was ruled illegal before being fully put to the test, but since it could be used to pay taxes to the government, it would likely have worked, at least as a supplementary currency.