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Re: [Taler] GNU Taler: An update from Switzerland...

From: Christian Grothoff
Subject: Re: [Taler] GNU Taler: An update from Switzerland...
Date: Tue, 4 Oct 2022 18:16:53 +0200
User-agent: Mozilla/5.0 (X11; Linux x86_64; rv:102.0) Gecko/20100101 Thunderbird/102.3.0

On 10/4/22 15:45, Calvin Burns via Taler wrote:
On Fri, 09/30/2022 01:01:04 PM, Christian Grothoff wrote:
Dear all,

Watson [1] just reported on the Swiss parliament having put forward an
inquiry ("Postulat") with support form members of all parties in the
parliament tasking the Swiss government to evaluate the legal foundations
for an introduction of GNU Taler [2] by the Swiss National bank.

Naturally, this is not a done deal (and "only" Switzerland), but it could be
one significant step forward. So thanks for your continued support and let's
keep hacking!

[2] https://taler.net/

Would it be possible to combine the introduction of GNU Taler with the
introduction of a mechanism to make the existence and functioning of the payment
system independent of the economic state of banks (or any other private entity)?

That's exactly what Taler would do as a Central Bank digital currency, as if the central bank issues coins with Taler, they'd not be a liability of a commercial bank.

Currently when a bank is bankrupt it affects the payment system.  As I
understand this is one reason why big banks are bailed out by tax payers (which
are not the rich people, thanks to Blackrock).  As you said in an earlier post
[1] there is a protocol in case a Taler exchange is bankrupt.

That's one use-case. With a central bank, that protocol would be used in case a political decision is taken to discontinue the system. A central bank cannot really go bankrupt (in its own currency).

Shouldn't we have
something similar with banks? Because no matter if a bank is bankrupt or not:
the account data exists and is valid.  That way we would remove one "moral
hazard" [2].

Yes, and that is exactly what we proposed in

Happy hacking!


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