99.9% of my transactions are already digital … how does a digital coin as opposed to a digital transaction help me? I’m still struggling to understand the value w/i the US … perhaps there is value across currencies, as in your AUS taxi driver example
The international payments network would become vastly more efficient and less costly. Also right now merchants subsidize your AMEX points. With fedcoin they could be disintermediated (another reason it will be opposed). Lastly, he envisions fedcoin to be 'programmable' so that smart contracts, etc could be built on to them seamlessly. For instance, if you sign up for the Ideas Lab newsletter and leave 10 comments per year, you automatically get credited with a 50% discount in your subscription fee. Who wouldn't want that?
99.9% of my transactions are already digital … how does a digital coin as opposed to a digital transaction help me? I’m still struggling to understand the value w/i the US … perhaps there is value across currencies, as in your AUS taxi driver example
The international payments network would become vastly more efficient and less costly. Also right now merchants subsidize your AMEX points. With fedcoin they could be disintermediated (another reason it will be opposed). Lastly, he envisions fedcoin to be 'programmable' so that smart contracts, etc could be built on to them seamlessly. For instance, if you sign up for the Ideas Lab newsletter and leave 10 comments per year, you automatically get credited with a 50% discount in your subscription fee. Who wouldn't want that?