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Title: What kind of Alt would be best for a domestic economy? Post by: bitcart on July 22, 2015, 11:53:15 AM If you could develop a crypto currency for a domestic government to adopt, what features would you implement into the coin and why? e.g. would there be a limited amount of this currency like bitcoin? How would you deal with inflation? How would you deal with volatility?
This is aimed as a fun thought experiment. I think it would be plausible for a government to adopt a crypto currency. Ideas from developers and everyone are welcome. Title: Re: What kind of Alt would be best for a domestic economy? Post by: NorrisK on July 22, 2015, 12:04:19 PM I guess it should not have too many options, it would become too complicated.
Also, any form of anonimity without backdoor would be a no go. Title: Re: What kind of Alt would be best for a domestic economy? Post by: bitcart on July 22, 2015, 12:36:03 PM Also, any form of anonimity without backdoor would be a no go. I think that depends on the government though. Some governments might want banking privacy while others won't. Title: Re: What kind of Alt would be best for a domestic economy? Post by: bit1 on July 22, 2015, 07:23:34 PM Crypto currency for a domestic government, I dont see really how it can work, All coins must be paired with other coins and when you do this, it will not be domestic totally.
Title: Re: What kind of Alt would be best for a domestic economy? Post by: bitcart on July 22, 2015, 07:48:28 PM Crypto currency for a domestic government, I dont see really how it can work, All coins must be paired with other coins and when you do this, it will not be domestic totally. It can go outside of a border, like normal fiat, but the aim is to have merchant adoption and consumer adoption within the jurisdiction. Title: Re: What kind of Alt would be best for a domestic economy? Post by: NorrisK on July 22, 2015, 08:41:25 PM Also, any form of anonimity without backdoor would be a no go. I think that depends on the government though. Some governments might want banking privacy while others won't. Banking privacy, only as long as they always have a way to take a peek.. No way they go without this option. Title: Re: What kind of Alt would be best for a domestic economy? Post by: TrueCryptonaire on July 22, 2015, 08:52:23 PM I guess it should not have too many options, it would become too complicated. Also, any form of anonimity without backdoor would be a no go. I think Monero has a nice solution of voluntary anonymity. You can give your viewkey and your transactions are public for the holder of a viewkey. This system is imitating the current system of ability to use anon transactions (like today we have cash) or more public system (credit/debit card payments etc). Title: Re: What kind of Alt would be best for a domestic economy? Post by: monsterer on July 22, 2015, 09:20:34 PM One which is pegged to the county's fiat currency
Title: Re: What kind of Alt would be best for a domestic economy? Post by: Outlander on July 23, 2015, 01:00:41 PM would there be a limited amount of this currency like bitcoin? How would you deal with inflation? How would you deal with volatility? The amount of this coins should not be limited, and depends on the needs of the gov. So the gov can control the supply and demand to that coins, keep the inflation at a healthy level, and balance the economy, like the fiat. One which is pegged to the county's fiat currency Great!Title: Re: What kind of Alt would be best for a domestic economy? Post by: shanem on July 23, 2015, 02:18:23 PM For the altcoin to be effective, the coin need to be legal tender and hopefully backed by government assets.
It would best if it can used to pay taxes or for government service. Title: Re: What kind of Alt would be best for a domestic economy? Post by: Snail2 on July 23, 2015, 03:54:47 PM Perhaps an all premined PoS coin with some huge amount of coins (but that depends on the size of the economy). BTW some NXT/SuperNet clone with all the goodies e.g monetary system, exchange, asset exchange and market place (for state bonds), even a voting system could be a good choice.
Title: Re: What kind of Alt would be best for a domestic economy? Post by: MicroGuy on July 24, 2015, 03:46:47 AM I would like to see a cryptocurrency with an integrated voting system whereby the community had full ruling power.
There would be an upvote system (like reddit) and the only way to make a change would be to bump the highest upvote. Then the users would become like an AI or social brain, organically steering the currency throughout its evolution. Title: Re: What kind of Alt would be best for a domestic economy? Post by: Nxtblg on July 24, 2015, 02:25:44 PM I would like to see a cryptocurrency with an integrated voting system whereby the community had full ruling power. Then you think like James Altucher: "July 4th Is A Scam (http://www.jamesaltucher.com/2011/07/july-4th-is-a-scam)" Title: Re: What kind of Alt would be best for a domestic economy? Post by: bitcart on July 25, 2015, 12:36:24 PM I would like to see a cryptocurrency with an integrated voting system whereby the community had full ruling power. There would be an upvote system (like reddit) and the only way to make a change would be to bump the highest upvote. Then the users would become like an AI or social brain, organically steering the currency throughout its evolution. Cool. What kind of things would people vote on? Title: Re: What kind of Alt would be best for a domestic economy? Post by: tyz on July 25, 2015, 12:53:01 PM The coin should allow fast transaction confirmation and it should have a little yearly inflation (< 1%) to avoid deflationary risks.
Title: Re: What kind of Alt would be best for a domestic economy? Post by: KingJo on July 25, 2015, 03:00:20 PM Creva coin, an electronic money developed by teams with experiences in developing bit coins, has an algorithm as bit coins d.
It’s fully developed now and is being normally sent and received among members in Korea. Creva coin, as bit coins are circulated to some degree, is being normally used among our members in Korea like at Creva Shopping Mall where bit coins can be used so that it may function as an e-money and we will gradually expand its usage. Title: Re: What kind of Alt would be best for a domestic economy? Post by: antokproject on July 25, 2015, 11:19:55 PM I suggest checking out Antok project :) - https://antok.co
Ruled through direct-democratic voting system, no fluctuating values and provides essential backbone to log society and manage resources. Title: Re: What kind of Alt would be best for a domestic economy? Post by: bitcart on July 30, 2015, 12:23:12 PM Creva coin, an electronic money developed by teams with experiences in developing bit coins, has an algorithm as bit coins d. It’s fully developed now and is being normally sent and received among members in Korea. Creva coin, as bit coins are circulated to some degree, is being normally used among our members in Korea like at Creva Shopping Mall where bit coins can be used so that it may function as an e-money and we will gradually expand its usage. Cool. What's adoption been like with this coin? |