An EDI format for monetary transactions prevents a perpetual fee. EDI formats are free.
Bitcoin uses an algorithm designed by the NSA. Is there a back door on that algorithm? I do not know. However, knowing the people, I suspect there is. While Bitcoin (and other digital currencies) reduce the fees, it is not perfect.
All transactions can be described as:
Two people.
Promise.
Promise.
Deliver.
Deliver.
End transaction.
Time stamps on each stage clarify risk and accountability.
That is "Promise Language" - a simple EDI format to describe all transactions, regardless of currency. For free.
Topic: Preventing a perpetual fee (for being born) (Read 542 times)
Jump to: