A question is why no one is adopting this on an institutional scale. I heard on a podcast that the applied cryptology ecash is using is lacking Proofs.
You mean reward sats? Mainly, it's legally not your money until you withdraw it. Also, it's our money we're sending you - not money we sent you on someone else's behalf.
The biggest update in cashu as protocol to make it more safe and trustworthy. Fuck Federated mints.
What is the deal here:
We're building this for the Bitcoin community first but we're planning to expand this also for local currency communities outside of the crypto space that exist in pockets all around the world. Especially the local currency tech stack is old and antiquated. We're going to give them the most advanced ecash protocol they could ever dream of. For free!
tldr
A question is why no one is adopting this on an institutional scale. I heard on a podcast that the applied cryptology ecash is using is lacking Proofs.
Because Cashu mints could be considered money transmitters?
Many businesses get these licenses it’s not impossible to do.
Too much compliance costs and hassles and overhead, I assume
If you can going to comply with BSA/MTL, there's not much point in using ecash as it defeats the purpose (privacy).
How is the SN internal wallet not considered a MT
Not a criticism and k00b obviously researched this ad infinitum
I was just quickly back of a postage stamp research and there is a gift card loophole
You mean reward sats? Mainly, it's legally not your money until you withdraw it. Also, it's our money we're sending you - not money we sent you on someone else's behalf.
The biggest update in cashu as protocol to make it more safe and trustworthy. Fuck Federated mints.
What is the deal here:
https://twiiit.com/i/status/2059192308977811591