Saturday, February 22, 2014

Bitcoin's role as part of central bank reserves

Central banks require a clearing settlement device among currencies.  Gold has served that function historically, however, has issues.  Namely: dollar-settled derivatives, requires a vault, and is difficult to transport.

Bitcoin solves these problems.

It is my suggestion that some focus and energy be placed in communicating the advantages of Bitcoin to the various central banks around the world.  This requires trading desks and exchanges to provide liquidity.  The German central bank comes to mind.

Friday, February 21, 2014

A common language to communicate value

Imagine going to Japan and not knowing a word of Japanese.  Your goal is to buy some salmon sushi.  With some pantomiming and lots of gesturing I think most people would figure out how to convey the value that is desired along with the amount of currency required, however, without a common language it would not be the most efficient transaction in the world.

Promise Language is that common language.  Human readable.  Simple.  Computer readable as well.
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