[Cryptography] Digital currencies

mok-kong shen mok-kong.shen at t-online.de
Sat Jun 18 11:06:38 EDT 2016

Am 18.06.2016 um 16:49 schrieb Benjamin Kreuter:
> On Sat, 2016-06-18 at 00:42 +0200, mok-kong shen wrote:
>> How far advanced are the developments in digital currencies?
>> Would they ever be able to replace the classical currencies?
> I am not sure any electronic payment system or even a combination of
> systems could replace paper money completely.  Paper money supports
> offline and anonymous payments, but does so without requiring any
> particular identification, registration, or secret keys.  An electronic
> system likely cannot properly support this:  without identification,
> "truly" offline payments cannot be secured, and identification requires
> both a secret key of some kind and some kind of registration.
> Really though, I do not see why the goal of any electronic payments
> system should be to replace paper money.  There are some problems that
> can be solved with electronic payments; other problems can be solved by
> a paper money system; some can be solved by either.

I am highly ignorant in the issue. But I vaguely remember that earlier
central banks of certain countries (incl. China) were interested in
the concept of Bitcoin and I recently saw an opinion that Bitmint
is better than Bitcoin.

M. K. Shen

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