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You mean some sort of digital cash? Perhaps settled on a publicly accessible ledger with decentralized infrastructure not relying on any single party? Preferabl
by Legogris 7y ago
You mean some sort of digital cash? Perhaps settled on a publicly accessible ledger with decentralized infrastructure not relying on any single party? Preferably permissionless to utilize but resilient to attacks and not putting the operators of the infrastructure in a privileged position of power with regards to private information?
- jandrese 7y agoAnd also handling millions of transactions per day with minimal resource requirements of course.
- alkonaut 7y ago> You mean some sort of digital cash? Yes, exactly. > Perhaps settled on a publicly accessible ledger with decentralized infrastructure not relying on any single party? The current project is backed by the riksbank (Sweden's central bank). I think for cryptocurrency to be viable as a proper replacement for cash this is how it should work. The central bank guarantees the value of the digital currency by setting it to be the same as the existing cash. I'm not sure exactly how the ledger would be maintained in a way that both lets me go to a shop and buy something without the central bank knowing who owns the token, while at the same time offering no less visibility than the current system does in terms of larger scale transactions (e.g. if I go into a bank with a large amount of cash to deposit I'll get questions regarding money laundry etc).