The smart card is you, except you cannot tamper with its operations, you give it permission. All transactions n the smart network are single shot contracts between two smart cards. All transactions encrypted.
So, I tap my card on the browser, my card negotiates the feed without ads, I buy off the ad companies. The smart card on the other sied confirms. The law will tell us that the contract is valid, if the other party sends me ads after I contracted them out, then he is in civil violation, I have grounds.
This is not a thieves network, nothing will be stolen except by contract. There is no worse counterfeit problems then there are with the hundred dollar bill; likely much better. It is doable, cheap, the general instructions are out there, there are no patents, there are technology companies, and the market ids $200 billion, this market involves just about everything of valuer that we can tap.
There are no recursive contracts, if either party wants to hedge, then use a virtual coin with a stable savings and loan site. No 'unless' clause in the contract, the assets and liabilities for the single shot are maintained. within a liquid betting network..
The reason for the safety of contracts is banker bot everywhere, always managing a forward looking betting site, as close to a hedge as possible and near zero transaction costs. If you are uncertain, tell the bot, there is a crowd out there ready to insuree your uncertainty.
Software sales!
Transaction costs are low, what does thaty mean when buying softare? Tap your card, send the other party ten bucks and grab the software. The other party will be priced, and will respond with easily installable software, no gotchas or secret monopolies. It will run. There is no reason on earth why any human should have to fill out a friggen form, especially when your ID becomes some else's profit center. And the low transaction costs of smart card makes the independent software companies boom,. Costs so low it defeats that friggen GNU license, which should allow a period of priprietart software.
The number of human problems solved by smart card is unlimited, and all they have is a tap interface with a green/yellow light. They are the size of a credit card, and the bankers ate insisting on additional biometric ID checking. Seriously kick the geeks in the butt on this, a must have, especially with drunken helicopter pilots awaiting.
The collective berificayiuon of encrypotuon keys
This is worked out, and this is where infinite block cvhain comes into play. Remewmber, bankewr bot operates with a finite block chain that approximates the aggregate by grouping measures having similar significance, thus optimallyquantizing.
Infinite block chain allows each new card to find its position in the chain, and the chain form yields a verification. You havr a graph matching problem, new card slowly modifies the graph over a few days, block chain operations are definitely slow in dispersing new smart cards. We know the key block graph form, at least the isolated robot at the silicon masking factory does. That bot, chained and guarded, monitores block chain results, and verifies that is does not exceed some threshold for a randomly selected graph. It is the only thing that knows the ultimate chain, it generated the keys and masked them onto the gate array. After a week or so, your new card works everywhere and the old card is tossed.
Getting at the mathematics
Wer have a secret machine trat is issuing cards with individual private keys. Thr machine knows the order inn which they are issued. Each card can do a verification transaction in which a verification request is accepted. Generally done when the new card does not yet work at Wal Mart, for example. So the Wal Mart smart card issues a verification request, completely asynchronous to the original, and having no if than clause that refers back to the original.
The requests pass up the chain to the anonymous machine. Iys math problem is to determine how far out of variance should the incoming verification be relative to the issued sequence. That is another issue the bankers are figuring out. But remember banker bot, it keeps a finite block chin, and marks to mark as often as needed to keep it accurate.
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