- From: David Nicol <davidnicol@gmail.com>
- Date: Mon, 3 Mar 2014 08:58:35 -0600
- Cc: Web Payments <public-webpayments@w3.org>
On Sun, Mar 2, 2014 at 8:19 PM, Manu Sporny <msporny@digitalbazaar.com> wrote:
> On 02/21/2014 03:38 PM, Reutzel, Bailey wrote:
>> Also all these articles calling [mintchip] a (or lumping [mintchip] in with)
>> cryptocurrency are not correct! It’s not that, but still interesting
>> (enough)…
It depends on how you define "cryptocurrency." From a journalistic
point of view, the fact that the mintchip bearer device security uses
cryptography ... well, there is that Greek prefix.
Satoshi solved the DSP("double spending problem") with a decentralized
public ledger. The Royal Canadian Mint (the Canadian equivalent of the
US's Federal Reserve) solves the DSP by trusting the integrity of the
perimeter of the bearer devices to not get compromised. Each mintchip
has a smidge of non-volatile storage and some processing.There isn't
supposed to be a way to read that storage aside from through the
defined interface through the circuitry in there. All mintchip
transactions are peer-to-peer between these devices, after a
sooper-seekrit handshake.
Received on Monday, 3 March 2014 14:59:03 UTC