Cryptocurrency and Blockchain

electronic cash

In Japan, the Bank of Japan and NTT studied it in 1996.

Cashless -> Easy to track money

Advantages

Difficulty in tax evasion and money laundering

demerit

Can monitor what money is spent on -> privacy issues

Suica

Processed by centralized server

Data is basically easy to duplicate

You don't want it copied and used multiple times when it's used for purposes like cash.

trustless

Suica system assumes that Suica servers are reliable

Bitcoin works fine if 2/3 of all nodes are non-malicious

There are just under 10,000 nodes now.

China about 3%.

Difficult to use as a means of settlement in turbulent times.

Link to real currency

How to achieve this.

Simple method = deposit dollars equal to the amount of currency issued and exchange them on demand.

Depositing the same amount of dollars" is unrealistic.

seigniorage sharing system

How higher prices increase the supply of coins

Earn cash by selling excess supply

If coin X wants to keep its price $1, sell X to get $2 when the price reaches $2

I'll save this cash.

Buy coins from the market when prices are low.

Spend the cash you just saved.

Cannot buy if this cash is exhausted

In this case, it is addressed by issuing a seigniorage share with a promise to redeem it at a future interest rate.

A system that cannot be sustained without people buying shares in the belief that they will "increase and come back in the future."

Libra] on Facebook

Peg against a basket of currencies

https://gyazo.com/57988cf4439dbfff4ce03df814d32f1e

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