Digital Currency

Michael L Torrie torriem at chem.byu.edu
Mon Jul 2 11:44:37 MDT 2007


On Mon, 2007-07-02 at 13:39 -0400, Jonathan Ellis wrote:
> That's why it's called science _fiction._ :)

Well Daniel wanted to know if it was really possible, though.  I'm
saying no it's not for the following reasons:

- nothing can ge guaranteed to be not counterfeit-able, although public
key encryption can maybe help
- anonymous digital currency transfer is not politically feasible
- digital currency transfer (cash or no) requires a strict double-entry
system, which can't be done on peer-to-peer, anonymous transfers of
tokens

In short, digital cash holds as much promise as DRM.  Yes it is science
fiction.


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