Thursday, January 25, 2018

Let us not forget fiat bot

I mentioned fiat bot once before in passing, let us repeat ourselves as a warning.

I go to the retail fiat banker, deposit $5000 in cash for a new on line account.  Then I go to Sandbox Offices and let the standard Sandbox bot operate my account, under a written contract with Sandbox.org. I go home.

My standard fiat bot is ring fenced, it does nothing but bearer cash. All fiat bots operate with the assumption that bearer cash can be traded at will between fiat banks. The fiat bank managers none the wiser, but the bots get instant fiat ledger services as needed, and no sooner.

There is no protection against this, except those that foul the fiat system. This can break your system tomorrow, it is like those broadcast radios that suddenly showed up as network distributors, overnight in 1929. You will get a whomping huge big bang jam to the fiat system.

Central banker, jump in, seriously.  Instead of disaster, your staff will have terrific fun.

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