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Tethered money : managing digital currency transactions by Gideon Samid PDF

By Gideon Samid

ISBN-10: 0128034777

ISBN-13: 9780128034774

ISBN-10: 0128034971

ISBN-13: 9780128034972

Tettered funds: coping with electronic forex Transactions offers a complete dialogue of monetary transactions utilizing electronic currencies, with the writer, Gideon Samid, making the case for his or her growth in tethered cash. Exploring the technical, criminal, and historic elements of electronic funds, the writer discusses how the rising know-how of cash specific for a particular desire or to accomplish a specific job will have an effect on society.

The skill to dictate, Samid argues, how cash is spent may well elevate keep an eye on over our lives and assets, allowing us to perform a undeniable potency that might, in due time, develop into a pillar of civilization. Informative and thought-provoking, the e-book describes an evolving destiny that, in a few quarters, has already arrived.

  • Delivers an in-depth photograph of safeguard matters concerning monetary transactions
  • Explores fresh regulatory advancements relating to electronic currencies
  • Considers present cryptocurrencies and substitute money schemes

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Against this backdrop and its inherent risks, a novel concept emerged: digital money. Aren’t we digital already? The computer-stored figures that represent money today are in fact binary strings – digital. So why do we refer to “digital money” as something new and unprecedented? 00 bill. Two-dollar bills may be bundled together or be kept apart. Alice may pass one bill to Bob and keep the other. The bills, in fact, have an identifying serial number that is unique. 00 coin reflects both value and identity.

It may be a sobering digression to mention here the story of long-term capital management (LTCM). Star-quality mathematicians built a risk model they used to guide investment. They merged with market mavens, and offered their services to rich and ambitious investors. For a while, their results outperformed the market with a huge edge. But in 1998, one fundamental risk assessment in the model gave in and the profit edifice came crashing down. LTCM fell prey to a common miscalculation: misappraisal of the probability of a rare, harmful event.

If T is satisfied, then the coin redeemer may exchange it with another instance of $100 that has no redemption restrictions: $100–I9–[T = 0]. The new instance has a different ID. The redeemer could also redeem the tuple against an old-fashioned $100 paper bill. Such a tuple is realized as a combined bit string [V–I–T], which expresses a monetary value, V, a unique bill identity, I, and an inexorably linked redemption terms, T. We say then that this bill, identified as I, of denominated value V is tethered to terms of redemption T.

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Tethered money : managing digital currency transactions by Gideon Samid


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