Hamish Moffatt wrote:
> The author argues that pretty much anything you think a blockchain would > be useful for, would be better off without a blockchain. Sooner or later digital currencies will become standard because the economic friction of transfers is approximately zero. Banks and credit card companies will no longer collect 2% of retail sales. AFAICS the participants will be highly identified to the currency authority though the transactions don't have to be public. From a taxation point of view, this makes tax evasion a lot more difficult. The government will eventually require transactions above some amount to use the system and this will make sense for normal people. (I'm not a libertarian and I see this as a good thing.) This is the opposite to the cryptocurrency model where the parties are anonymous but the transactions are public. This will use the country's own currency - so enable a high level of real time economic monitoring - and won't rely on the tenuous mechanism of a public blockchain database held by random interested participants and computed and communicated when they feel like it. Jim _______________________________________________ Link mailing list [email protected] http://mailman.anu.edu.au/mailman/listinfo/link
