• lightrush@lemmy.ca
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    1 year ago

    It looks the same on the surface, however underneath the existing system has a lot of layers that were created over the history of the banking system that don’t need to exist in a digital ledger system like this.

    • Em Adespoton@lemmy.ca
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      1 year ago

      Yeah; this would replace the onion that is EMV with a straightforward digital ledger standard backed by the Bank of Canada.

      Under such a system, physical cash could become NFTs of the digital equivalent (and not NFTs in the cryptobro sense).

      This could make currency management much less expensive.