[Cryptography] Krugman blockchain currency skepticism

[Peter Todd]

On August 4, 2018 12:23:46 AM UTC, Benjamin Kreuter <brk7bx at virginia.edu> wrote:
>Except that we know how to solve that problem without all the expense
>of blockchains.  You use Chaum-style e-cash that supports at least one
>offline transaction "hop."  The activist group could then receive and
>spend money without having to interact with the bank.  You also have
>the advantage of having a payment system with a well-defined security
>notion.

This would be a much better argument if Chaum-style e-cash actually existed.

Currently it doesn't, which makes me think there must be a downside you're not thinking about.

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org