04 Jun '13, 4pm

Jon Matonis - Why There Is a Demand for Liberty Reserve's Services #bitcoin

Jon Matonis - Why There Is a Demand for Liberty Reserve's Services E-currency expert and Bitcoin Foundation board member Jon Matonis (@JonMatonis ) authored an article for Payments Source describing the attributes of Liberty Reserve and why a digital payments system with those attributes is so valuable. Excerpts: “In a free society with a market-driven economy, payment privacy and payment finality are legitimate and useful features of a currency – physical or digital.” - “By default, Federal Reserve-issued physical cash comes with payment privacy and payment finality.” - “Once troublesome physical cash is finally eradicated, any digital currency with privacy and irreversibility attributes will be next for scheduled termination. In the case of Liberty Reserve, It’s not the individual infractions committed by clients of Liberty Reserve that are worrisome to the regulators, i...

Full article: http://www.bitcoinnews.com/post/52147989792/jon-matonis-w...

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