The Future of Digital Cash Is Not on the Blockchain(wired.com)

10 pointsby drazvanvor 4 Jahren2 comments

The Future of Digital Cash Is Not on the Blockchain

https://www.wired.com/story/digital-cash-ecash-act/

2 comments

>What would that look like? The Treasury would issue digital dollars, just as it has issued paper money since the 1860s. To function as cash, the money can’t live on the government’s books or on a distributed blockchain ledger. That means balances must be stored on hardware. That could look like a stand-alone device, or it could be a secure hardware environment on your cell phone, similar to a SIM card—essentially a chip that is physically segregated from the rest of the device, so that it doesn’t depend on the security of the entire operating system.

Simply putting things behind a security module sounds like a really inadequate solution to double-spending. But it's crazy enough that it might actually work.

venkat223vor 4 Jahren

The cryptos are purveyed and transacted through private servers in esp Europe.Governments are into CBDC so as not to lose their taxes commission and esp more hold on all chunks of funds with public citizens and even non citizens through covenants.cyber loopholes and even pot holes are visible to be patched before any practical shape to the concept.Present system of digital images of all components of cash has not stabilised and is more prone to glitches with frauds as one of the components. Hence the fight is to grab the hold on wealth in the form of cash to have political domination with loopholes as though all cash is accounted for taxes etc as per well declared polcies. Society is developing into islands of cash holdings away from Govt glance to eat away or nibble their hard earnings as tokens of value