commit 1b7e91f42df0af94c0404bd197e463745899c35a
parent 6280ce1d7e5e2cab0c3e3202a7d95818bafb326e
Author: ms <ms@taler.net>
Date: Fri, 4 Feb 2022 23:50:14 +0100
typos
Diffstat:
1 file changed, 7 insertions(+), 5 deletions(-)
diff --git a/2022-privacy/privacy.tex b/2022-privacy/privacy.tex
@@ -313,7 +313,7 @@ could only hope for such a CBDC to be rarely used.
The ECB report describes the risk of (commercial) bank balance sheet
disintermediation as one of the major risks to consider from the introduction
-of a CBDC. Basically, the risk is that consumers loosing faith in a
+of a CBDC. Basically, the risk is that consumers losing faith in a
commercial bank may shift funds into CBDC, thereby exacerbating the situation
by creating a ``bank run''.
The ECB report discusses various strategies, but primarily focuses on limiting
@@ -367,7 +367,7 @@ inspired by~\cite{dold2019}, given in order of priority:
This prevents vendor lock-in, as another software provider can
take over, should the current one provide inadequate quality of service.
- Only Free Software can be seen as truly respecting the soveregnty of
+ Only Free Software can be seen as truly respecting the sovereignty of
citizens using the software, as well as countries relying on it.
As the ECB report states, international or even cross-border use of a
CBDC may be desireable, but this excludes solutions that would be under
@@ -394,7 +394,9 @@ inspired by~\cite{dold2019}, given in order of priority:
to increase their operational security.
\item \textbf{A CBDC must protect the privacy of buyers.}\label{item:privacy}
-
+ % FIXME: I'd suggest a comma after 'possible',
+ % otherwise 'possible' might be understood as
+ % a adjective for 'privacy'.
Where possible privacy should be guaranteed via technical measures as opposed to mere
organizational policies. Especially with micropayments for online content, a
disproportionate amount of rather private data about buyers would be revealed, if
@@ -522,7 +524,7 @@ proposal~\cite{bis948} to delegate the technical operation of a CBDC to
tightly supervised commercial banks as an alternative to the central bank
acquiring the technological prowess to centrally operate such a system has
merit: such a delegation can eliminate a likely single point of failure, and
-might entice commercial banks to diversity the feature set. It would also give
+might entice commercial banks to diversify the feature set. It would also give
commercial banks a raison d'être, and thus mitigate the risks from CBDC
disintermediation. In order for commercial banks to make a valuable
contribution when operating the CBDC, we believe the central bank would still
@@ -535,7 +537,7 @@ such a standard.
We have implemented the GNU Taler token-based payment system based on the
above principles~\cite{dold2019}. GNU Taler offers an alternative to
ID/account-based systems, while still enabling the state to ensure business is
-legal (and tax-paying) without infringing on the soverenity of private
+legal (and tax-paying) without infringing on the sovereignty of private
citizens.
In addition, CBDCs should also provide additional benefits compared to existing
