Currency units created as a numbered and traceable file

Discussion space for community admins

Moderators: hugo, alexandre, rmvanarkel

Post Reply
Quantar
Posts: 31
Joined: Mon May 27, 2013 9:18 am

Currency units created as a numbered and traceable file

Post by Quantar » Sun Dec 22, 2013 3:04 am

To Cyclos.org,

Love your software and look forward to the Pro release.

I would like to create a community where the units of currency are created as a numbered file for security. The members can then open their trading account and drag the numbered files to the trading account of another member to which they wish to transact. In this way the journey of each numbered file is transparent to the administrator and perhaps even to the whole community, thus maintaining the integrity of the system. Obviously then the numbered files in the trading account cannot be copied or numbers changed, etc.

Will the Pro release have a similar feature to protect the currency, or do you know of a Cyclos developer who could create such a feature for the software, assuming with my limited knowledge that Cyclos does not already operate in this way?

Cheers, Reece Girven.

admin
Site Admin
Posts: 1414
Joined: Mon Jan 24, 2005 10:31 am

Re: Currency units created as a numbered and traceable file

Post by admin » Mon Dec 23, 2013 8:18 am

The accounting structure in Cyclos is built as a double entry system, and there are various other mechanisms to ensure data and transaction integrity.
I am not sure what you mean with tracebale files but it seems that you mean that the units will be 'earmarked' with unique numbers. This is an interesting approach but technically very complex. Especially when units can be split (having digits after the comma). We have done quite some research on cryptographic protocols and algoritms but decided that this is (for now) now feasible for Cyclos.

Post Reply