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Banks and governments are warming up to the possibility of leveraging the power and resiliency of the blockchain to implement smarter financial systems that permit faster and cheaper local and global transactions, permanently recorded in a tamper-proof blockchain. At the same time, financial institutions and states find some aspects of Bitcoin worrisome. One concern is that the Bitcoin network relies on anonymous miners to validate transactions. Another concern is the privacy and semi-anonymity of Bitcoin.

So, on the one hand governments wish to modernize the financial system with blockchain technology, but, on the other hand, they want to remove privacy. Concepts and implementations of blockchains without privacy, where all users are explicitly identified, and all transactions traceable by the government by design, are beginning to appear.

GreenCoinX provides a solution by adding email and phone identification to all GreenCoinX transactions. Those intending illegal activities will likely not use GreenCoinX as they can be easily identified. Furthermore, global governments will be able to collect taxes based on GreenCoinX transactions with country-by-country rules for each type of transaction. GreenCoinX is clearly and unambiguously targeted at governments. The developers hope that governments around the world will adopt their digital currency to automate tax collections in the context of an efficient digital economy.

The government section of the GreenCoinX website invites all governments to contact the developers to build custom implementations of GreenCoinX tailored to specific national requirements and laws. Taler will not be a new currency, but use an electronic mint holding financial reserves in existing currencies such as U. The government section of the GNU Taler website notes that, with Taler, the receiver of any form of payment is known, and the payment information comes attached with some details about what the payment was made for.

The GNU Taler project seems an interesting attempt to put together two conflicting requirements — anonymity for consumers and ability for the government to tax merchants. Therefore, it seems likely that governments would prefer simpler systems with no privacy at all, such as GreenCoinX.

The Logicoins resort project, being carried out in conjunction with ClickJett. The Logicoins Network brings access to crypto and digital currencies in places where exchanges regularly take place and users. Bitcoin Advertising Platform BitMedia. Founded by former CEX. What can you give when they have it all? Bitcoin may not be the end, but it is certainly the beginning. Ask us a Question.

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