Fedcoin Rising?

giulioprisco writes US economists are considering a government-sponsored digital currency. On February 3, David Andolfatto, Vice President of the Federal Reserve Bank of St. Louis, wrote a blog post based on a presentation he gave at the International Workshop on P2P Financial Systems 2015 [YouTube video]. The title of the blog post is "Fedcoin: On the Desirability of a Government Cryptocurrency."

Comments

Re:Brought to you by the same government

[XxtraLarGe]

That arbitrarily seizes cash left and right because it is deposited in "structured deposits"

What are you, some sort of kook? That never happens!

Re:Guy is a moron.

[slashmydots]

Wrong! Bitcoins' top appeal is:
- you can use it if you're under 18
- you can use it if the world bank hates your country
- you can use it to accept payments without paying a credit card gateway company a ton of money
- you can use it to take orders over the phone if your credit card processor thinks you're too young of a business to take card-not-present transactions
- it is virtually impossible to use a stolen wallet if the user encrypted it

And it most certainly, absolutely, is not "secret." It's is the polar opposite. It's all logged.

Re:Guy is a moron.

[oodaloop]

The one and ONLY value of a cryptocurrency is that it can be reliably traded secretly. There is simply NO other reason to use one.

Cyrptocurrencies also ensure there are no forgeries. If a bill is printed with the hash on it, it can be verified easily. This is actually an excellent use of the cryptocurrency standards. Having the govt, as well as citizens and businesses, being able to track it publicly would be a benefit. Also, you're a moron.