Intervention by Visa spelled an end to European crypto debit cards for the majority of customers on Thursday. Around a dozen crypto companies were affected by the shutdown, which instantly wiped out their services across Europe. Issuers such as Bitwala, Tenx, Bitpay, and Xapo were left high and dry after a Visa subsidiary stopped processing payments. Two of the companies affected have since spoken to news.Bitcoin.com, revealing their plans to find an alternative solution.
We need digital bearer dollars.
Simple, if the trader wants to trade the pits in dark pool (read sandbox) , then the trader should open a distinct account in the trader's name at Janet's local dollar bank. Then, under a contractual agreement, the dark pool bots control that account. legally, the trader is signing power of attorney to the escrow router, sort of. It is still the trader running the account, it has given the Escrow routier a term limited protocol. If the protocol breaks, the the local server vendor takes the hit, and maybe Intel and Microsoft along the way.
When the trader cashes in the bearer notes, the escrow bot works his account, as if it owned the account. The trader can switch between bearer dollars in the pits and Janet's three way accounts. The dark pool can operate with watermarked digits or use blockchain, and the blockchain can delete when account are closed. Thus, the blockchain protocol is short and consensus done with, really, the ledger interfaces connected to the dark pool.
Meanwhile the dark pool can feature any number of trading venues, all Redneck compatible fair auto-pits. This is really how Goldman-Sachs and friends do it inside, with human pit bosses but the model is easily replicated.
Why can we do all this neat stuff?
Intel and Google copped to the Spectre feature, they have essentially found our core security by finding the hole. Our ability to watermark tokens and validate them, securely, changes the game, we are talking bust out, fever pitched, sandbox deployment all year long.
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