Show HN: Kong – Physical Cryptocurrency

Re:Show HN: Kong – Physical Cryptocurrency by manigandham on Wednesday December 11, 2019 @11:03AM (#21763709)

So this is primarily physically currency that is hard to counterfeit? Cash (in the US) already has billions of R&D in defenses to the point that most people will never see it, and centralization ensures that cash is always accepted.

I just don't see why people would switch to something to ensure 100% real bills and lose all the other benefits of cash. How is there going to be a cambrian explosion with an issue that affects almost no one?

[ Parent | on HN ]

Re:Show HN: Kong – Physical Cryptocurrency by paulgerhardt on Wednesday December 11, 2019 @11:35AM (#21764079)

This is primarily a demonstration of how cash instruments can be decentrally issued.

Secondarily, it demonstrates how we can move validation from physical properties of cash instruments (such as fine printing and exotic inks) to cryptographic properties.

We believe the latter to be superior and a path to ratchet down the cost overheads that go into securing cash issuance and payment channels.

[ Parent | on HN ]