The cashless society is upon us as well as similar it or non governments volition desire a secure digital currency for which they command value, quantity as well as charge per unit of measurement of issuance. The expert intelligence is that they produce non conduct maintain to hire teams of developers as well as consultants to lay inwards house this digital currency. They tin upshot these tokens on the Bitcoin Blockchain at a toll 0.05 XCP ( less than 10 cents ) using the Counterparty platform.
Why upshot their digital token on the Bitcoin Blockchain ?
The respond - SECURITY, SECURITY, SECURITY. No other organisation tin accomplish the score of safety of the Bitcoin blockchain proof of move consensus system, currently secured yesteryear greater than 200 Peta hashes of mining power.
Anybody tin upshot tokens but giving the tokens value is simply about other matter. Governments tin confer value to their digital tokens yesteryear making them legal tender as well as mandating that exclusively such tokens hold upwards accepted for paying taxes as well as regime services.
Digital currency issued on the Counterparty platform volition hold upwards smart money. Ethereum mode smart contract volition shortly hold upwards a characteristic of Bitcoin. It is exclusively waiting on discussions to hold upwards finalised as well as a vote yesteryear XCP token holders yesteryear the terminate of June or early on July.
Bitcoin blockchain imposes a 10 infinitesimal block confirmation fourth dimension frame, nonetheless developers at Storj simply about other token using the Counterparty platform, conduct maintain implemented micro payments using offchain solutions similar to the proposed Thunder as well as Lightning network. All that is needed for implementation is CSV which is real most activation at 90% adoption as well as Segwit which should follow shortly. Off chain transactions volition hold upwards 2d as well as at scale.
Mainstream adoption volition require an slow to utilization wallet on smart phones as well as SMS phones. There is already a mobile wallet Indiesquare, operational for Counterparty tokens, which tin hold upwards easily adapted to purpose amongst a unmarried token. Extending bitcoin wallets to SMS phones should non hold upwards also far away either.
In conclusion, governments tin already upshot secure digital currency on the Bitcoin platform at real depression toll as well as retain total issuance as well as value control. For those who claim that they produce non trust governments to upshot currencies, Get Real, That volition never change. The exclusively divergence is that this procedure tin hold upwards to a greater extent than transparent. Bitcoin volition ever remains equally an alternative backup currency, should the natives lose confidence inwards the regime issued variety.
Update 3/1/2017: The toll of a bitcoin transaction soundless holds this organisation dorsum but micro transactions as well as payment channels are coming.
Bitcoin volition hold upwards many things including beingness a currency, a village layer as well as a reserve asset.
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