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'hedging' the food stamp currency on the bitcoin bet
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Vincenzo Iozzo Aug 27, 2014 10:28 PM
To
jeffrey E.
Cc
so an alternative to implement a new standalone thing (with maybe =k-SNARKs) for the food stamps, we can build on top of bitcoin using =heir scripting language and the multi sign 'feature'. Where essentially we can say that the coins given =o certain users (food stamp holders) can only be spent if a third-party =ntity authorizes the transaction, this would allow us/the govt to =ontrol how coins are spent. There's some extra machinery there to do once the =oin leaves the hands of the food stamp holder, but it should work
The hedging part is that we can most likely build both options and if =itcoin ends up winning we go there, otherwise we take the other path
