I don't understand why a blockchain completely mined by one entity would be any good. wouldn't a relational database be much better suited for this application, since decentralization is no longer an objective?
I didnt say it be good, I say it probably be implemented since a state (or central bank) controlled crypto-currency could be used to obtain more power over citizenry.
Image the state knowing exactly where you get all your money from and where you spend it (since they would have the blockchain), likes of Revenue/IRS would love it!
It would make it easier to implement welfare and stop tax fraud, this alone could be the argument used to push it thru' (tho I am not sure how politicians would get brown envelopes then) and most people would support it. Just like most people supported current UK censorship creep.
Image the state knowing exactly where you get all your money from and where you spend it (since they would have the blockchain), likes of Revenue/IRS would love it!
It would make it easier to implement welfare and stop tax fraud, this alone could be the argument used to push it thru' (tho I am not sure how politicians would get brown envelopes then) and most people would support it. Just like most people supported current UK censorship creep.
Hell call it "dysto-coin"!