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April 06, 2014, 02:55:04 PM |
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the following is a speculative idea. I wonder whether it would be possible to produce physical coins which have smart properties (smart contracts + physical coins). What I imagine is a physical coin, with some CPU in it, and perhaps other sensors like GPS. Something like a cheap tailor made cell phone for holding Bitcoins. One could use it like cash, but it would have some advantages. For example it could have a physical color and that color would change depending on the value. At first it would be somewhat of a gimmick, but could be actually useful in special scenarios: for example keys in a hotel or chips in a casino. my reasoning is that while mobile phones are very good for holding Bitcoins, they can't be physically transfered. in that sense smart coins would not only represent of the value of the coins, but the keys as well. of course in Bitcoin transfer of wealth is a chain of signatures and transferring keys is almost never a good idea. with smart coins one would transfer the value with the keys (they would not be transmitted to the blockchain). one would not only transfer wealth, but everything that is attached to these keys, for example the right to open a door.
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