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I was kind of hoping this was about the entire basque region using it's own cryptocurrency ;)
by crunchiebones 7y ago
I was kind of hoping this was about the entire basque region using it's own cryptocurrency ;)
- caprese 7y agoyeah, people have been flocking to them because many nations will jail centralized issuers I guess France doesn't care!
- JumpCrisscross 7y ago> many nations will jail centralized issuers Central banks (and the related monetary presses) are “centralised issuers.” Nobody is jailing them. Moreover, creating a private currency is legal in most states. (It usually takes the form of IOUs.) People don’t do this because it’s unprofitable. You need additional motivations, like cultural preservation, to counterbalance the economic cost.
- caprese 7y agoand where banks get settlements for non-compliance, non-banks get jail. its not usually because of the private currency, its the compliance, the crowd that flocks to them, the contents of the server, with the sanctioning being almost exclusively on the issuer. permissionless distributed ones don't have this issue
- isoprophlex 7y agothe article mentions how monopoly-esque the notes feel. i assume they're easier to forge than euro notes. maybe some cryptographic signature on the notes would allow instantaneous verification of banknote authenticity, using eg. only a cell phone?
- johnchristopher 7y agoHow would that alone prevent copying ? Unless the actual note/id is linked to some user (and then it has become way more complicated and expensive) ?
- johnchristopher 7y agoNah, it's something people can actually use :). gentle /s
- xrd 7y agoNever use that word here or you will be automatically down voted by Luddites.