Hi all,

We are retired professors of a well-known B-School and we recently created a new way for transacting bitcoins because we felt that the Blockchain is deficient in a number  of ways: transactions take 10 minutes or more to complete; it is commercially infeasible ( it will ultimately crash when the history of transactions becomes excessively large); it uses massive amounts of energy and power; it employs miners that can slash your purchasing power (their transaction fees average 4-5% (https://blockchain.info/stats)).

Our system is at beta right now at http://Fasterchain.com and we would heartily appreciate your comments regarding it.

We hope to incorporate our business early this year if enough people are interested. Ideally, we would like to have a free site from a reputable institution partnering with us.

Our system uses the atomic clock to process transactions instantly, first-in, first-out. It does need any history of transactions (only current balances), uses very little energy and power, and does not employ miners. If you are ahead of others, you get processed first, at no additional cost to you. You never have to pay extra to speed up your transaction.

The Blockchain’s power lies in the verification of transactions by consensus. But this causes delay. In its place, we have transparency of transactions: every transaction is published publicly and anonymously as soon as it is made. Hence, anyone can download transactions of any given day and verify that the transactions are consistent continuations of the previous day's transactions.

Thanks!

Tom and Bill

Thanks for that reference.

Tieing Csycash directly to local banks' currency deposits (insured and regulated by the Fed) would make Csycash better on the Trust scale, I think.

I just submitted a paper to the journal, Ledger.

Cover Letter:
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A cryptocurrency with zero price volatility is an important area in the context of cryptocurrencies because I believe that for a cryptocurrency to be widely accepted as a cyber currency, it must be a storage of value.

My paper proposes a cryptocurrency where the exchange rate is 1:1 relative to its underlying currency and where currency depositors’ preferences determine the supply of the cryptocurrency.
The creation/destruction of the cryptocurrency is unlike Bitcoin’s (created by miners; never destroyed) or Fedcoin’s (created/destroyed by the Fed), and more like that of a credit/debit/atm card, but where the cryptocurrency is not tied to an institution like a bank or Visa.
 
I believe that this novelty will be easier for the public to accept when compared to Bitcoin (E.g., please see Bill Gates comments cited in the paper as to why his company does not use bitcoins.)

I believe my manuscript will be of interest to the readers of Ledger because it proposes to potentially disrupt the very popular and most widely used cryptocurrency, Bitcoin.
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Paper may be viewed at:  http://csycash.weebly.com/

Your comments are welcome.