This research proposal envisions and describes a viable system that offers a widely available, dependable and easy-to-use digital currency, that people can buy, use, hold and collect interest on, without the constraints of banks. The proposed implementation would operate on a public blockchain and would be backed by its most trust-minimized digital asset. The system is meant to by fully decentralized, and operate on-chain without any need for a specific operator.
Notice: This research proposal in no way makes promises about the full functionality of any derived implementation, nor does it represent a commitment or intent to build, deploy or operate such a system. Its sole aims is to envision the process of defining, planning and productizing such a system and product.
Notice: The research proposal is provided “as is”, without warranty of any kind, express or implied. In no event shall the authors or copyright holders be liable for any claim, damages or other liability, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the research proposal or its implementation or the deployment on a public blockchain as a working contract, or the use, or other dealings in the research proposal and any of its deployed on-chain contracts.
See source code for a proof of concept implementation on Ethereum using Solidity.