0 sats \ 4 replies \ @om OP 19 Aug 2022 \ parent \ on: Taro would open a new attack surface: stablecoin issuers choose forks bitcoin
Wdym "let Fed participate"? Who prevents it from doing what Circle and Tether do?
i guess what i’m saying is to include Fed in the game and open up USD channels to have both liquidity and endorsement, the same time giving up their CBDC myth, which is fundamentally unworkable.
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"include Fed"? Who could exclude it from the permissionless chain?
Why is CBDC unworkable? The Fed is capable of making its own blockchain if it wants to.
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I don't see it's impossible, on Fed Chain, but it won't happy based on the past research and dilemmas. There's no any upside though for Fed to run a vast technical infrastructure(cost reason) with no community-back.
Taro is opening a door to welcome any central banks, literally, now it's their call to adapt it or not.
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A central bank using an existing blockchain is in principle possible. If I recall correctly, Ukraine plans to issue its CBDC on Stellar.
But the only reason Bitcoin infrastructure is vast is to mess with the government. If you're the government, you might get away with just 10 nodes and no mining whatsoever. That's roughly what Stellar has, I think.
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