That was my first idea years ago when working the details of Smart Cards, secure elements with auto-trade capability. There are two reasons banks did not do this.
1) I got lazy and did not finish the math work on the optimum mS&L algorithm, but that is done. (see web page link to the right)
2) Bitcoiners confused them with block chain.
In the sandbox, bankers can issue bankers coin using the Redneck S&L architecture with price variance set at 4%, say. Betting in the S&L pit is ordered by significance, so we have free entry and exit. The S&L itself does not monitor inflation, that takes care of itself in the corridor system. No ledge service required, bankers coin uses the Null ledger service.
Businesses can add a ledger service on top as needed for smart contracts.
Works fine. We get an S&L currency issuer which is central bank neutral.
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