Re:Ask HN: What technology is mocked today but will be commo...
by BizarroLand on Tuesday September 06, 2022 @07:39PM
(#32744578)
Some version of it may be implemented by America switching to a digital currency.
There would be a central regulatory bank that administers financial transactions and serves as a source of truth while Point of Transaction registers send the data for the plusses and minuses in every non-physical cash transaction event.
It wouldn't supplant the physical dollar in any reasonable time as there are many reasons why such bearer bonds would be useful, but I could see it displacing the VISA/MC/AMEX/DISCOVER dominance over electronic financial transactions in America at least.
There would be a central regulatory bank that administers financial transactions and serves as a source of truth while Point of Transaction registers send the data for the plusses and minuses in every non-physical cash transaction event.
It wouldn't supplant the physical dollar in any reasonable time as there are many reasons why such bearer bonds would be useful, but I could see it displacing the VISA/MC/AMEX/DISCOVER dominance over electronic financial transactions in America at least.