It is both, here now in the form of Defi, and likely the middle agreement in the battle over secure ID.
So the regulated banks want a part of it. They want a cut of the action by feeding the top of the contract chain. All that means is they sell licenses for register short chain address users. The contract are signature proven off the contract chain, and users of short chain cash get direct access to sharded cash chain via a single address. Banks are the new google search engines via government monopoly. How about that.
What keeps the short term chain hot wallet? The short chain miners, ultimately resolve back to the major ledgers, who holds the keys? If merchants establish a short chain tweeter account, then their is a secure personal ID in the cloud, or there is a government regulated bank or there is a MasterCharge. One can imagine a secure computer, provably secure, deep in a cae, inaccessible to humans, and it independently registered on line with every monetary system in the world and kept its own keys, and had only one job, manage short chain cash with tweeter accounts. The the sacred URL server.
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