On 9 November 2017, the ECB issued a document (page 8, here: https://www.
When
cash withdrawals were ransacked in Greece, the ATMs of the House of
Representatives of Greece were dealt with by the Members themselves, who
benefited from a special preferential regime reserved for them. They
withdrew as much cash as possible two days before blocking the public by
enjoying insider trading.
Security first of all
All
this with the EquaCoin electronic purse can not be done. In fact,
unlike the bank account, the electronic purse is segregated from the
accounting of the company EquaCoin launching the initiative. Current
accounts, on the other hand, are linked to the bank's accounts where
they are lit because they are not considered as coins but rather bank
liabilities! The customer thinks they have real money on the account -
and in fact international accounting standards consider deposits as cash
- but banks, for tax and opportunistic reasons, prefer to consider
customer money as a simple future commitment of the bank to deliver what
appears in the customer account statement ... EquaCoin is already
available in the electronic purse and the purse is a bearer's property
just as if they were official currency coins in a normal physical purse.
However, unlike the physical purse, the EquaCoin purse is nominative,
can not be lost or stolen without the proprietor being able to claim
the property. Public economic order is safe.
The second point: direct democracy
The
ownership of a EquaCoin purse guarantees a right to vote on the
monetary policies of the EquaCoin system to all the purse owners (one
head one vote). The vote is direct without the intermediation of
representatives.
The third point: equality
Voting
by an owner of a purse with an EquaCoin has the same value as that of
an owner of a purse that holds more than one EquaCoin. Anyone who
downloads the EquaCoin purse is entitled to receive the first EquaCoin
for free.
These
three topics together already represent an unknown value to other
monetary systems in force today. Not to mention that transactions
between purse users happen in real time, 24 hours a day, seven days a
week, and at a very low cost: less than a cent of a EUR per transaction.
