W3C home > Mailing lists > Public > public-webpayments@w3.org > September 2014

Re: OECD Working Paper: "The Bitcoin Question"

From: Timothy Holborn <timothy.holborn@gmail.com>
Date: Tue, 9 Sep 2014 00:12:20 +1000
Message-Id: <B346C0F1-CB4E-44DD-ADEB-25806A76D6DE@gmail.com>
Cc: Joseph Potvin <jpotvin@opman.ca>, Web Payments CG <public-webpayments@w3.org>
To: Melvin Carvalho <melvincarvalho@gmail.com>

> On 8 Sep 2014, at 11:59 pm, Melvin Carvalho <melvincarvalho@gmail.com> wrote:
> 
> 
> 
>> On 8 September 2014 15:44, Joseph Potvin <jpotvin@opman.ca> wrote:
>> Working paper: http://www.oecd.org/daf/fin/financial-markets/The-Bitcoin-Question-2014.pdf
>> By OECD's Director, Financial and Enterprise Affairs, and Special Advisor to the Secretary-General on Financial Markets.
>> http://www.oecd.org/finance/financial-markets/adrianblundell-wignall.htm
>> 
>> Too bad this OECD "working paper" not include a request for feedback via some venue, the way the US Fed openly solicited comments on its paper via an expliciat call for submissions.
> 
> "it is likely that the main reason crypto-currencies are ‘taking off’ in acceptability as a means of payment is due to the anonymity feature"
> 
I signup to a service in oz, to get more bitcoin.  I had to check my passport, my drivers licence, my electoral role & something else.  I then got an email, to say I needed to send them a photocopy of my passport or license.

Took a few days already. It's hardly anonymous.  I don't think I need that much ID to get a bank account...

> Im unsure what has lead to this conclusion.  The main advantages of crypto currencies are speed of transaction, distance of transaction, low fees, irreversibility and divisibility.  
>  
Main advantage for me, is in it's use as redeemable tokens, that may be assigned to something for the purpose of accruing economically relevant benefits.  Whether that's via putting a stamp on correspondence (supporting a time stamp, and checksum for example), or obtaining a credit for successfully submitting useful work towards a project - the ability to have some form of token that means, you're able to use for revenue purposes - seems like it's most useful purposes to me.

Not so much replacing currency, but rather a way to be recognised economically for work undertaken on or in connection to, internet communications.

Although, IMO, Anything that makes it easier to democratise globalisation, is probably a good thing.


>> 
>> -- 
>> Joseph Potvin
>> Operations Manager | Gestionnaire des opérations
>> The Opman Company | La compagnie Opman
>> jpotvin@opman.ca
>> Mobile: 819-593-5983
> 
Received on Monday, 8 September 2014 14:12:57 UTC

This archive was generated by hypermail 2.3.1 : Tuesday, 6 January 2015 21:03:39 UTC