- From: Joseph Potvin <jpotvin@opman.ca>
- Date: Thu, 31 Jul 2014 15:39:55 -0400
- To: Manu Sporny <msporny@digitalbazaar.com>
- Cc: Web Payments CG <public-webpayments@w3.org>
RE: "The currency will have value (as determined by the market); however, its primary function is providing a conversion path between other currencies." Same deep architectural flaw as the others: a purely speculative fiat token instead of a tangible benchmark. The simply reproduces the deepest flaw of post-1971 nation-state units of account. The team behind the Uro derivative of bitcoin understands the issue: http://uro.io/ I've not yet looked into the auditability of the data source for their anchor, so don't yet have a view on it. But at least "the global capacity to produce food" matters to the value of their unit. Even in the digital world... http://www.thecomingdepression.net/wp-content/uploads/2010/02/unemployed-phd-will-code-for-food.jpg Joseph On Thu, Jul 31, 2014 at 3:05 PM, Manu Sporny <msporny@digitalbazaar.com> wrote: > Looks like a fork of rippled, but that's purely conjecture at this > point... haven't looked into the details: > > "Stellar is a decentralized protocol for sending and receiving money in > any pair of currencies. This means users can, for example, send a > transaction from their Yen balance and have it arrive in Euros, Yen, or > even bitcoin. We’re expecting to support the usual categories of > transactions: payments to a merchant, remittances back home, or rent > splits with a roommate. > > You can hold a balance with a gateway, which is any network participant > you trust to accept a deposit in exchange for credit on the network. > Stellar also comes with a built-in digital currency, referred to as the > stellar, which we’re giving away for free. The currency will have value > (as determined by the market); however, its primary function is > providing a conversion path between other currencies. > > We hope that people will build applications on top of Stellar to help > bridge the gap between digital and traditional currencies." > > https://www.stellar.org/blog/introducing-stellar/ > > -- manu > > -- > Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny) > Founder/CEO - Digital Bazaar, Inc. > blog: High-Stakes Credentials and Web Login > http://manu.sporny.org/2014/identity-credentials/ > -- Joseph Potvin Operations Manager | Gestionnaire des opérations The Opman Company | La compagnie Opman jpotvin@opman.ca Mobile: 819-593-5983
Received on Thursday, 31 July 2014 19:40:45 UTC