> "The User agrees to keep his unallocated, undivided interest in the
> pool of gold held in storage at a Vault free from any liens,
> encumbrances, charges or claims"
>
> In other words, GoldGrams cannot be leased or loaned nor can any
> derivatives be created on them.
It seems like this would really hinder business-to-business transactions
with GoldGrams, as many business transactions involve loans or obligations
of some fashion or another. If I have a business and I want to make payroll
in gold-grams, then doesn't the obligation I have to my payroll equate to a
claim against my gold-grams?
An e-currency has tremendous potential to allow businesses to exist
virtually on the internet. I could have a web development company with
employees from around the world, paid in e-gold. However it seems that I
wouldn't be able to do the same thing with gold-grams.
An e-currency should be just that -- a currency -- with all the privileges
of ownership, including the privilege to make promises with the currency:
promises which turn into obligations and claims, when put into contracts.
Craig
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