Wednesday, January 10, 2018

The central bank 24 hour digital bearer note

We need to get central bankers into the escrow routers as these routers interconnect the n-color pits.  It is a congestion priced network,  can't do it without bearer tokens, and we can't let the central banks flounder

Central banks issue 24 hour bearer tokens as a service. The account holder puts a hold on some amount of dollars at the bank and receives a sequence of digits, tradeable at most of your sanctioned escrow routers.

The central bank operates a protected channel to distribute secret keys to the escrow routers, such that the routers and pits can validate the coin on the spot.

Intel and Microsoft guarantee the sanctity of the escrow protocols, obviously no  double spending or use a finite blockchain.  Central banks can do this today, enable their existing member banks to be completely connected.

Finite bearnotes mean only finite blockchain is needed.  I would suspect that the finite block chain could be restricted to local escrows, for which it is the root, require all routes to return the bearer notes to the originating router for return to the central bank. 

The originating agent still owns the assets under escrow, and all escrows instruction resolve the notes back to the central bank, a completely controlled system. The key is escrow security.

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