View Full Version : Blockchain, Gold and Community Driven Central Bank

10-27-2015, 11:33 AM
Here is a disruptive idea of how to end the central banking as we know it.

Pretty all forms of paper money were started from being backed by gold or silver. No paper money that went off the commodity standard ended up well in the long run. Paper money were just a form of gold or silver certificates.

In the digital age, even the usage of paper can be eliminated by issuing digital gold certificates. While blockchain provides a sound technological foundation for issuing digital gold certificates, it needs to guarantee them redeemable and its balanced supply.

One way to look at this problem is that, blockchain technology solves the issues of balanced supply, trustful transactions and authenticity of digital assets by using a rigid algorithm, having a public ledger and validating computing works using distributed computers; when dealing with physical assets like gold, we could instead use an “analog” version of blockchain, which is to have a open community with transparent process, records and distributed power structure.

Please read full initial proposal at: http://rothbardiangoldprice.com/2015/10/blockchain-gold-and-community-driven-central-bank/

And your thoughts and feedback is most welcome!