Monday, July 10, 2017

Why don't bankers make their own banker's coin?

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.

No comments: