"FedCoin"
What if the a subset of top G10 countries
decided to design and implement
a digital cryptographic currency that is:
Take the non-military GDP of these economies and give each country shares
according to there size.
USA 16.8 trillion USD
Japan 4.902 trillion USD
Germany 3.635 trillion USD
2 China 9.1
5 France 2.7
6 United Kingdom 2.5
7 Brazil 2.3
8 Russia 2.1
9 Italy 2.0
10 India 1.8
Σ = 50 trillion
What is the current global M1
and what is measurably needed
for 10 billion people to transact by 2045
On setup phase 1 DGR ≅1000USD
The consortium will bankroll the project for 5 years from pre-mined reserves until equilibrium is met.
This is money to facilitate
trans-national and intra-national
commerce.
National and private assets are protected by property rights as it is now.
any entity can setup a node and run a miner.
the USA and nation states will naturally setup mining pools in rough proportion to the current GDP mix.
They will make a gentlemans agreement not to fund private mining investment in their own countries.
or modify electricity prices.
Regardless - that action will be meaningless.
any one can generate an address and control funds.
A treaty will be enacted to protect the rights of entities to use DGR
optional government and bank co-key services will be built into the protocol.
the DGR will include other government financial auditing features not currently in BTC.
privacy protection features will be built in that a not currently in BTC.
it will be BTC+
it will have legislated anti 51% attack rules and conventions.
it will have will have government sponsored forensics
International banks may design a fast TX
but slow settlement system that mirrors the existing banking accounts system.
Based on a global block chain.
Creation of GDR can be matched to national monetary policy with no-consistant
proof of work.
Money can be destroyed by sending to address 0 (zero)
BitCoin has acceptance.
What does GDR have?