09 Feb '14, 4am

Interesting point -- say what you will about Bitcoin, it's actually cryptographically hard to counterfei…

Interesting point -- say what you will about Bitcoin, it's actually cryptographically hard to counterfei…

Which, if you already have an NFC phone, lowers the cost of a verification device to $0. Add-on the efficiencies of mass production and the long-tail after market and even the low-end markets in third world countries will have “free” verification devices. Given that the blockchain (esp the UXTO version) can be shared from cell-phone to cell-phone…. ↩ As noted in the comments, a national currency could setup a PUF system, however, simply using a PUF only prevents fraud. A physical Bitcoin basically extends all of the things that make Bitcoin useful in its respected niches to physical transactions. For example, a PUF Bitcoin could be translated into its digital equivalent without having to visit a bank. ↩ In response to a comment on Slashdot, I would like to clarify that I don’t believe this solves the larger socioeconomic problem in these unstable regions. It can help, all ...

Full article: http://www.indolering.com/puf-bitcoin

Tweets

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