During his presentation at the recent Satoshi’s Vision Conference Krawisz maps out the pathway which he believes offers the most sensible global move towards a cash-based cryptocurrency system. The diagram depicts a path through ICO’s and Hedge Funds which move towards Brokerage Accounts via Mining and Exchanges. A brokerage account allows users to move with currency much more freely as opposed to a Hedge Fund which is traditionally more of a storage facility than a live, fluid account. It must be mentioned that brokerage accounts are taxable, which might in turn be essential if cryptocurrency does become a physical token, the logistics of this however are quite complicated as we know. Krawisz highlights several benefits that he believes lend themselves to physical cash, or as he puts it, to a ‘native token’. With tokens, the risk of the receiver being unable to spend the value of it is reduced. People engaged in token to token transfers are more likely able to go on to continue spending, thus circulating the currency, unlike in digital realms were the currency might not move again for a long period of time. Krawisz also believes that tokens have the best chance of being supported by hardware wallets, with mainstream banks like Santander talking about future mobile phone apps, this is quite a relevant point. Krawisz believes that any native token must be compatible with any wallet, again quite an important point to consider if the tokens creators don’t want to inadvertently limit their audience. He does go into some depth with regards to other considerations such as BIP70 payment protocols being extended to include group addresses and group address parameters being integrated into the Bitcoin URI standard to ensure the currency continues to become more open and more universal. As expected, Karwisz did of course pay some mention to the Bitcoin Core ‘cults’ he opposes, stating that ‘nobody is worried the core group will learn fast enough to stay ahead’. To me, this shows Karwisz has an inspiring level of confidence in the potential Bitcoin Cash, and other token-based systems must break into the world of physical, mainstream currency. He believes any changes made must be small and simple and that through creativity, native tokens might very well be the future.
I'll try once I feel like the community has grown less toxic. Right now I'm more interested in comparing the two sides to see how much effort they are willing to put into engaging with me. If bch does and btc doesn't, that's evidence I can present to other people.— Daniel Krawisz (@DanielKrawisz) March 26, 2018