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[2016-03-25] <- Dutch Central Bank developing DNBcoin

Fri Mar 25, 2016 4:54 pm

The Dutch central bank has committed to developing an internal blockchain prototype dubbed currency "DNBCoin".

On the Bank's published Annual Report - page 89 section 4.3.4 , the attention to Blockchain technology was cited :
"Block Chain Technology looks promising. An innovation that deserves special attention is the block chain technology. This is since 2009 used in the exchange of virtual currencies such as bitcoins.
The blockchain is working with a shared ledger in a distributed network of computers around the world.
There is no one central party but computers locally verifying the transactions and adding them to the ledger.
Potential benefits of this infrastructure are low cost, speed and transparency in transacting.
The result is : the general ledger seen by everyone in the network."


http://www.coindesk.com/dutch-central-b ... d-79356009

Annual Report in Dutch
http://www.dnb.nl/binaries/Jaarverslag% ... 339389.pdf
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Re: Dutch Central Bank developing DNBcoin

Fri Mar 25, 2016 6:45 pm

The Dutch central bank has committed to developing an internal blockchain prototype dubbed currency "DNBCoin".

On the Bank's published Annual Report - page 89 section 4.3.4 , the attention to Blockchain technology was cited :
"Block Chain Technology looks promising. An innovation that deserves special attention is the block chain technology. This is since 2009 used in the exchange of virtual currencies such as bitcoins.
The blockchain is working with a shared ledger in a distributed network of computers around the world.
There is no one central party but computers locally verifying the transactions and adding them to the ledger.
Potential benefits of this infrastructure are low cost, speed and transparency in transacting.
The result is : the general ledger seen by everyone in the network."


http://www.coindesk.com/dutch-central-b ... d-79356009

Annual Report in Dutch
http://www.dnb.nl/binaries/Jaarverslag% ... 339389.pdf
Best way to understand the technology is to work with it :)
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Re: [2016-03-25] <- Dutch Central Bank developing DNBcoin

Fri Mar 25, 2016 7:53 pm

DBcoin to da moooooon! probably NOT ;)

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arnoudk
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Re: [2016-03-25] <- Dutch Central Bank developing DNBcoin

Fri Mar 25, 2016 8:01 pm

DNB is most likely using this to study the merits of the blockchain. This is a positive development for bitcoin, not at all a threat, as a centrally planned digital currency by definition has a finite lifespan (all fiat currencies fail, too). If someone can manipulate the system for personal benefit, eventually, someone will do exactly that and undermine the currency. The only stable currencies are those where that is not possible.

This development is a logical, and necessary, step to broader bitcoin adoption, I believe.
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tey
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Re: [2016-03-25] <- Dutch Central Bank developing DNBcoin

Fri Mar 25, 2016 11:59 pm

DNB is most likely using this to study the merits of the blockchain. This is a positive development for bitcoin, not at all a threat, as a centrally planned digital currency by definition has a finite lifespan (all fiat currencies fail, too). If someone can manipulate the system for personal benefit, eventually, someone will do exactly that and undermine the currency. The only stable currencies are those where that is not possible.

This development is a logical, and necessary, step to broader bitcoin adoption, I believe.
I share this view and would love to add :

Dutch Central Bank is approaching the merits of the blockchain through a digital currency. Its not clear, how DNBcoin will serve its purpose. Yet indirectly the message of bitcoin/blockchain relationship seems to be in blend.
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