>What would that look like? The Treasury would issue digital dollars, just as it has issued paper money since the 1860s. To function as cash, the money can’t live on the government’s books or on a distributed blockchain ledger. That means balances must be stored on hardware. That could look like a stand-alone device, or it could be a secure hardware environment on your cell phone, similar to a SIM card—essentially a chip that is physically segregated from the rest of the device, so that it doesn’t depend on the security of the entire operating system.
Simply putting things behind a security module sounds like a really inadequate solution to double-spending. But it's crazy enough that it might actually work.
>What would that look like? The Treasury would issue digital dollars, just as it has issued paper money since the 1860s. To function as cash, the money can’t live on the government’s books or on a distributed blockchain ledger. That means balances must be stored on hardware. That could look like a stand-alone device, or it could be a secure hardware environment on your cell phone, similar to a SIM card—essentially a chip that is physically segregated from the rest of the device, so that it doesn’t depend on the security of the entire operating system.
Simply putting things behind a security module sounds like a really inadequate solution to double-spending. But it's crazy enough that it might actually work.