If this were 2010 I'd agree with you, but technology is changing very quickly.
We are very close to the ability to use bonds to pay for goods instead of cash. This allows you to buy things with "strings attached" so the bond becomes valueless under certain circumstances. E.g., I will buy your eggs, with a $8 bond which will lose its value if you are proved within my network of trust to have paid a worker less than a living wage.
Of course this $8 bond is worth less than $8 in cash, but the eggs purchased with the bond are worth more to me than eggs purchased with cash.
This will enable people to spend money and ensure that their revenues are reinvested according to their values.
This is one of my candidates for a "killer app" for Ethereum.
This is absolutely necessary as a key check on dirty money, since cryptocurrency has dramatically loosened up the ability for cash to flow between regulatory regimes.
We are very close to the ability to use bonds to pay for goods instead of cash. This allows you to buy things with "strings attached" so the bond becomes valueless under certain circumstances. E.g., I will buy your eggs, with a $8 bond which will lose its value if you are proved within my network of trust to have paid a worker less than a living wage.
Of course this $8 bond is worth less than $8 in cash, but the eggs purchased with the bond are worth more to me than eggs purchased with cash.
This will enable people to spend money and ensure that their revenues are reinvested according to their values.
This is one of my candidates for a "killer app" for Ethereum.
This is absolutely necessary as a key check on dirty money, since cryptocurrency has dramatically loosened up the ability for cash to flow between regulatory regimes.