Cryptocurrency and Blockchain

[/mkk/5. October 17, Cryptocurrency and Blockchain](https://scrapbox.io/mkk/5. October 17, Cryptocurrency and Blockchain).

• electronic cash

  • In Japan, the Bank of Japan and NTT studied it in 1996.
  • Anonymity of cash
  • Cashless → Easy to track money
  • Advantages
    • Difficulty in tax evasion and money laundering
  • demerit
    • Can monitor what money is spent on → privacy issues

• Suica

  • Processed by centralized server

• ⇔Bitcoin - decentralized (decentralized) with dual use (double-spending) prevented.

  • Data is basically easy to duplicate
  • You don’t want it copied and used multiple times when it’s used for purposes like cash.
  • Also called trustless to be non-centralized

• trustless

  • Suica system assumes that Suica servers are reliable
  • Bitcoin works fine if 2/3 of all nodes are non-malicious
  • There are just under 10,000 nodes now.
    • China about 3%.
    • I had thought that the majority of the respondents were Chinese.

• The money part was removed from the Bitcoin mechanism blockchain.

• Difficult to use as a means of settlement in turbulent times.

  • Link to real currency
  • See also:Dollar pegging - WikipediaDollar pegging
  • How to achieve this.
    • Simple method = deposit dollars equal to the amount of currency issued and exchange them on demand.
      • Depositing the same amount of dollars” is unrealistic.
    • seigniorage sharing system
      • seigniorage - WikipediaSeigniorageGains on issuance of currency
      • How higher prices increase the supply of coins
        • Earn cash by selling excess supply
          • If coin X wants to keep its price $1,sellXtoget$2 when the price reaches $2
          • I’ll save this cash.
          • Call this seigniorage profit?
      • Buy coins from the market when prices are low.
        • Spend the cash you just saved.
        • Cannot buy if this cash is exhausted

        • In this case, it is addressed by issuing a seigniorage share with a promise to redeem it at a future interest rate.

          • What is Stablecoin (Stablecoin)
          • A system that cannot be sustained without people buying shares in the belief that they will “increase and come back in the future.”
  • Libra] on Facebook
    • Peg against a basket of currencies

• Web3

  • 

  • Related: Personally owned groupware.

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