This is an interesting cryptocurrency article given that it precedes Bitcoin... (Perhaps one of the author is Satoshi Nakamoto :-D) However the technologies an

This is an interesting cryptocurrency article given that it precedes Bitcoin... (Perhaps one of the author is Satoshi Nakamoto :-D) However the technologies and mechanisms it describes are significantly inferior to Bitcoin. Notably it is centralized (relies on a bank to create digital coins), and fails to solve the double spending problem (see section 5.1). Other aspects of it are more similar to Bitcoin (eg. it signs and verifies transactions with asymmetric crypto key pairs).