Digital Justice Money
Digital money was riding high on the notion of by-passing central banks, so it is a profound irony that it appears to emerge as the ultimate societal tool managed by no others than central banks. Bitcoin success is attributed to its intellectual feat of milking trust from an assembly of communicating strangers, and insuring that mining money will stay difficult. What bitcoin designers failed to see is that the big revolution in bitcoin is the fact that every bitcoin coin has a unique identity. It is not just a number as it is with legacy digital money -- it has a 'digital self', which can be cryptographically hooked, and attached. Bitcoin can be tethered -- and that is the core of its revolution. It is the foundation of smart contracts, and traders anonymity.
We at BitMint realized this advantage quite early, and designed a simpler digital money. In fact the BitMint coin is the mathematically simplest way to fuse value and identity. And it is quantum safe -- ready for the coming era of quantum computing. The unique identity of the BitMint coin allows one to mark it, and limit its use and disposition. No sooner would central banks realize this fact than they would mint their fiat currency the BitMint way; holding on to both ends: issuing money, and redeeming money, while allowing in-between free flow. Free within the nationally designated limits. Large sums will have to carry their chain of custody, poverty-alleviating funds will not work in casinos, educational monetary support will be limited to books and tuition, a health account would work for doctors and medicine. Money will be minted to abide by contractual obligation; money will have an expiration date when it has to surface by a claimant to be exchanged. We are talking about a massive "plumbing operation" to eliminate monetary leakage from the pool of financial justice.
Most dramatically, BitMint digital money will open the road to just taxation -- wealth based, digital presence accounting to prevent off-shore, and 'under the rug' hiding. Quantum safe cryptography assuring just collection. A conceptual revolution in taxation. Today the tax man lays hands on money in motion, so traders move money clandestinely. BitMint digital justice money is taxed per outstanding digital coins regardless of their owner, and regardless where their owner stores them.
So here is the big picture: Identity bearing digital money can be minted to prevent hiding, abuse, misuse; can be given off while insuring its use according to centrally determined guidelines. And on the other end BitMint digital money allows for fair, concealment-voiding taxation, to circulate efficiently from the top heavy to the top needy.
Money is primarily a societal tool. The means to climb to prosperity, and keep people moving and motivated. BitMint digital justice money is pliable in the hands of the legitimate authority, ready to serve the prevailing economic thinking.