Features

Confidence Chains offers distinct features over other digital finance systems. The authority is distributed over many owners. Many users may hold private keys capable of exerting authority over the block chain(the transaction ledger familiar to Bitcoin developers). There are distinct advantages to this architecture:

1. resilience.

In order to shut down the currency ledger, you must disable all the nodes. If the nodes are properly placed, this makes the currency highly resilient to shut down. There are several cases we must consider:

• Intentional Shut Down

This is the case where the owners of the currency shut it down and exit with the deposits. Not only is this a real risk for digital asset systems, but the risk of such reflects in the appeal of the currency system. If the potential users know that this scenario is an impossibility it adds to the sense of security in the scheme. This problem holds true for most digital currency systems, even Chaumian E-Cash, Triple Signed Receipts and other client-server technologies. In Confidence Chains all the authorities must collude to exit the currency(and keep the deposits), by carefully designating the authorities, users are offered maximum assurance against intentional shut down.

• Hostile Takeover

This is the case where another party with some kind of authority or perhaps technical acumen offensively shuts down the currency. E-Gold or the Liberty Reserve are examples of this. The key point here is that the owner/issuers did not will fully dismantle the currency. In order for a government to shut down Confidence Chains, they must shut down ALL the authority nodes. If a node were placed in every country, then all the world governments would have to collaborate to shut down the ledger.

• Accidental Shut Down

  This is the case where there is hardware or network failure. In this case, all the nodes must experience not only simultaneous failure, but permanent simultaneous failure. Confidence Chains supports intermittent connectivity. It's possible to run a secure and high volume currency ledger from your cell phone.

2. non-bias.

Confidence Chains supports many economic schema!

• inflationary/deflationary assets

• p2p marketplace

  These schemes require interpretive measures eg. when to inflate?. The authority nodes collectively negotiate the outcomes. Other Digital Currency systems might offer the ability to inflate, deflate, or similar macro functions, however these functions are the sole domain of whomever has control of the system. In Confidence Chains, there can be several authorities who must negotiate these terms. This offers non-bias.