commit 2ca12816a8f12f56619a4c8c067d3aa420c764f7
parent 5f78a0c8ef407ebb386fd6cc1ed81c52683bf4d1
Author: Jeffrey Burdges <burdges@gnunet.org>
Date: Wed, 18 Oct 2017 21:33:55 +0200
UNREADABLE CORRECTIONS on page 3
Diffstat:
1 file changed, 22 insertions(+), 11 deletions(-)
diff --git a/ekrona/e-krona.tex b/ekrona/e-krona.tex
@@ -111,32 +111,43 @@ h) e-Krona account
& Register based account requires for merchants. Exchange has e-Krona escrow account. \\
i) Riksbank functions
- & Holds the escrow accounts, can be the operator of the exchange and guarantees the
-exchange of e-krona in Swedish kronor at all times. \\
+ & Holds the escrow account. Can either run operator of the exchange and guarantee the
+exchange of e-krona in Swedish kronor directly, or else audit private exchanges similar to conventional banks. UNREADABLE CORRECTIONS \\
j) No bank account necessary
- & The e-krona can be made accessible to groups without bank accounts if the exchange operator is also accepting cash. \\
+ & Taler/e-krona can distribute fixed incomes without requiring customers posses bank accounts \\
-k) Possibility of making interest payments?
- & {\red (Christian to update according to possibilities???)} \\
+k) Interest payments % was: Possibility of making
+ & AMBIGUOUS QUESTION WITH UNREADABLE CORRECTIONS \\
l) Connection to existing payment systems
& Wire transfers, Debit and credit cards can be used to immediately fund the e-krona wallet. \\
\end{tabular}
-This solution solves the problem of gaining access to cash and to risk-free assets as any Riksbank or government related facility could offer the exchange of e-kronas back to cash (as the Riksbank holds the e-Krona escrow funds) for people presenting themselves with their e-krona Taler wallet.
+Taler solves the problem of gaining access to cash and to risk-free assets. As the Riksbank holds the e-Krona escrow funds, any Riksbank or government related facility could offer the exchange of e-kronas back to cash for people presenting themselves with their e-krona Taler wallet.
-At the same time, Taler addresses the inefficiencies of the existing systems by eliminating most fraud risks associated, for example, with credit cards, and facilitates the usage especially in e-commerce but also in the physical world by reducing the steps necessary (no credit card entry, no PIN, no authentication and authorisation necessary anymore).
+At the same time, Taler removes inefficiencies the current system creates through fraud risks, due to credit cards, personally identifying information, and authentication token compromise. It thus simplifies both e-commerce and brick-and-mortar transactions, which no longer require authentication techniques with excessive spending power, such as credit cards or PINs.
-Taler can offer the same privacy as cash for the payer (could be limited to a EUR amount per transaction). {\red This limit could be removed if the payer/wallet owner contributes his identification to the account by a voluntary act. (Christian to update according to possibilities???)}
+
+Taler offers the same privacy as cash for the payer, except that withdrawal limits
+carry a legal force not present in ATM withdrawal limits.
+% Nonsensical and seemingly false : (could be limited by amount per transaction).
+% IS THIS RELEVANT? This limit could be removed if the payer/wallet owner contributes his identification to the account by a voluntary decision.
\section*{*What challenges and opportunities do you envisage with each e-krona solution?}
-We envisage no major challenges with a e-Krona Taler solution outlined above, as the system is already up and running in an Alpha version with browser wallets. Further development is needed to create the wallets on other platforms and provide more interfaces to merchant systems.
+UNREADABLE CORRECTIONS
+% WRONG & REMOVED : We envisage no major challenges with a e-Krona Taler solution outlined above,
+% as the system is already up and running in an Alpha version with browser wallets.
+TERRIBLE PHRASING and UNREADABLE CORRECTIONS: Further development are needed to create the wallets on other platforms and provide more interfaces to merchant systems.
-The main complexity we see would be the roll-out of the compatible functionality into the POS systems of merchants in the physical world. But this is no different from the challenges that established systems like SWISH, ... already solved and hence easy to estimate. If this project is Riksbank/government sponsored, that should not be a large.
+TERRIBLE PHRASING : The main complexity we see would be the roll-out of the compatible functionality into the POS systems of merchants in the physical world.
+% REMOVED : But this is no different from the challenges that established systems
+% like SWISH, ... already solved and hence easy to estimate. If this project is
+% Riksbank/government sponsored, that should not be a large.
+UNREADABLE CORRECTIONS
-This outlined solution should have no major impact on monetary policy because the issues of e-krona are 1:1 backed by Swedish kronor in the escrow account at the Riksbank. But two things will happen temporarily – unless cash is used: Firstly, with the issuance of e-krona commercial bank money gets transformed into central bank money until the e-krona are spent and transformed back into Swedish krona. And secondly, non-cash commercial bank money gets transformed into cash-like money until the e-krona are spent.
+AMBIGUOUS INTENT AND TERRIBLE PHRASING : This outlined solution should have no major impact on monetary policy because the issues of e-krona are 1:1 backed by Swedish kronor in the escrow account at the Riksbank. But two things will happen temporarily – unless cash is used: Firstly, with the issuance of e-krona commercial bank money gets transformed into central bank money until the e-krona are spent and transformed back into Swedish krona. And secondly, non-cash commercial bank money gets transformed into cash-like money until the e-krona are spent.
\section*{*What is missing in our concept?*}
