About a week ago, there was some controversy regarding Paypal dumping a Bill Quick of Daily Pundit for the content on his website. Paypal is a subsidiary of eBay that is a means of making internet payments... effectively electronic money, and being a private company they have the right to stop doing business with whomever they please. this is fine, except only private 'currency' is available online, and that's not a very good thing. my idea:
From section 8 of the first article of our esteemed Constitution...
The Congress shall have Power to .... coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
I'm not a big fan of government, but it seems to me that a key job of the U.S. government is to mint money. couldn't an "e-nickel" be produced by the government? i'm envisioning something that would have the features of cash:
-unique serial number
-no commisions on the transfer of $ (unlike paypal, etc.)
-can be handed over anonymously
obvisouly there are some technological hurdles, such as how do you avoid conterfeiting. maybe some sort of huge encrypted serial number unique to every e-coin, whose authenticity can be checked against a gov't website.
think about the possibilities this would open up... a simple nickel donation from occasion visitors, no personal info to be swiped when doing online transactions, and best of all any paypal-esque, big-brother shit would have to clear the hurdles of the bill of rights unlike a large company that is prone to suffer from delusions of grandeur and self-righteousness when approaching a dominant market status
any thoughts?