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Countries can just use a database and do the same stuff as crypto incredibly efficiently by comparison
by 8note 5y ago
Countries can just use a database and do the same stuff as crypto incredibly efficiently by comparison
- Balantio 5y agoI just don't know how it works in detail on the bacnking side as i havenot worked with it. My thought was that a crypto based system could replace perhaps a sea of different approaches and alignment efforts across banking systems and if a central bank/banks are just need to approve a block, instead of mining it, the basic idea of a transparent cryptosigned blockchain might be useful. But yes i don't think they need something like this as the current system seems to be very trustworthy. I have never heard of a bank creating money out of thin air.