The currency was to become its own bank / control its funds
Does "to become its own bank" means that the currency would be traded in an independent bank? I also can't understand how a currency can "control" its own funds...
In 1990, David Chaum created Digicash. What's more, by definition, the currency was to become its own bank and control its funds without supervision from third parties. In 1998, Chinese engineer Wei Dai created B-Money. A year later, Nick Szabo created BitGold. In this example we find similarities to the contemporary BlockChain, a publicly available database used to record individual transactions.
Top answer
Palabra Does "to become its own bank" means that the currency would be traded in an independent bank? No, I don't think so. Palabra I also can't understand how a currency can "control" its own funds...
- Palabra Does "to become its own bank" means that the currency would be traded in an independent bank?
- No, I don't think so.
- Palabra I also can't understand how a currency can "control" its own funds...
- e.
- all of the algorithms, databases etc.
Get the Weekly English Kit 📬
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.
PalabraDoes "to become its own bank" means that the currency would be traded in an independent bank?
No, I don't think so.
Palabra I also can't understand how a currency can "control" its own funds...
The term "currency" is presumably extended or broadened to include the entire architecture of the system, i.e. all
0
Related Questions