tag:blogger.com,1999:blog-2595455932654799850.post4463523252812988934..comments2023-11-02T10:55:07.208+01:00Comments on The Monetary Future: Digital Currency Firm Fined $3 Million over Iranian AccountsJon Matonishttp://www.blogger.com/profile/04111660030028727950noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2595455932654799850.post-53236287863307639622009-10-05T16:17:36.504+02:002009-10-05T16:17:36.504+02:00Excellent comment. Actually with the cryptographi...Excellent comment. Actually with the cryptographic advances of the last 20 years, it is currently possible to create and negotiate 'digital bearer certificates' that represent self-contained value. The analogy would be that all of the privacy features embodied in a $100 bill would exist online (see my prior post http://themonetaryfuture.blogspot.com/2009/07/importance-of-jurisdiction.html).<br /><br />A central monetary authority would not be necessary because they would be nonpolitical currencies without possessing unjust legal tender privileges to enforce. The storage and security would be localized for digital bearer certificates (hard drive, smart card, etc.) and contract law would have to be upheld with the issuer (see www.e-gold.com for a case of electronic transfer system outside of political base money).Jon Matonishttps://www.blogger.com/profile/04111660030028727950noreply@blogger.comtag:blogger.com,1999:blog-2595455932654799850.post-71548053311589433932009-10-05T05:07:20.626+02:002009-10-05T05:07:20.626+02:00Where will "digital cash" be stored? Do...Where will "digital cash" be stored? Don't you need a central bank to "house" it and secure it?Mansoor H. Khanhttps://www.blogger.com/profile/05656080501591399125noreply@blogger.com