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When people say "digital money" they mean being able to for example move it from one account to another with a few lines of Python code, like you can with Bitco
by 323 5y ago
When people say "digital money" they mean being able to for example move it from one account to another with a few lines of Python code, like you can with Bitcoin/Ethereum/Tether.
You can't really do that with USD, you need an intermediary like Stripe, an attached bank account, ...
- cortesoft 5y agoYeah, but this new system will still have a middleman, the bank...
- 323 5y agoNot necessarily a middleman. The banks will back the digital coin, but might not be much involved in transfers (we'll see). A bit like physical cash, it is backed by the gov, but you don't need to involve the gov to transfer it.
- edgyquant 5y agoI wonder if it would be ideal for a separate company, not the banks and not the government, to control the nodes to “mine” or whatever equivalent this currency has. Maybe it should just be the government since you would likely just end up with such a company beholden to the banks.