EFTA00669647.pdf

From: Joi Ito To: "Jeffrey E." <jeevacation@grnail.com> Subject: Re: Thanks and some considerations Date: Thu, 14 Aug 2014 21:07:00 +0000 Ok Sent from my iPhone On Aug 14, 2014, at 16:45, "jeffrey E." <jeevacation@gmail.com> wrote: lets wait a while but it i had to decide today it would not be a yes On Thu, Aug 14, 2014 at 4:13 PM, Joi Ito .a> wrote: Are you interested in possibly funding him or should I tell him to stop barking up your tree. ;-) On Aug 14, 2014, at 13:27 , jeffrey E. <jeevacation@gmail.com> wrote: Forwarded message > From: Vincenzo Iozzo > Date: Sun, Aug 10, 2014 at 10:28 PM > Subject: Thanks and some considerations > To: "Jeffrey E." <jeevacation®gmail.com> > Jeffrey, > I'll start with the easy thing: thanks for letting me stay tonight > Now some considerations on our conversation from today: > I) what you said about not liking working with people much struck me quite a bit, mostly because I feel the same and also because especially when money/greed is involved people become mean and stupid - which is probably the most annoying combination out there. > I guess my solution to this is to try and work with people I like/trust/respect, but yours works as well if you can pull that off > Anyhow onto more practical things. > 2) besides the 'personal safety' considerations the more I think about your idea (and users of your idea) the more I think it's flawed. Here's why: > A) digital/virtual currencies are fragile, you can protect them only by selecting a few 'trustworthy' parties that can use the currency. Alternatively you can protect them if everyone likes 'it' and wants more of it. > The wording here is fundamental: think how easy if would be to destroy a currency(even a regular one) if people hated it instead of just wanting more of it for themselves > B) in most of the countries you were thinking about this wouldn't work - simply because they are not EFTA00669647 technologically advanced enough to handle it (think about the tiny villages, the old people, the underground economies, etc etc) > C) in some of the countries you were thinking about this could work but the incumbents have no interest whatsoever in the transparency that a public ledger will force > D) all those countries are weak, this will make them weaker - you can hack their currency and they are done > I think the keys here to make this work are: > I) interest free loans > 2) reduced FX risk for participants > 3) limited circulation > 4) enforced identities/accountability > You said you like great hacks - selling companies and/or big western countries a currency that doesn't actually exist is probably the ultimate hack in the world. I think, if anything, we should focus on that. > Let me know what you think, I'll read about Sweden in the meanwhile > Sent from my Iphone • please note > The information contained in this communication is > confidential, may be attorney-client privileged, may > constitute inside information, and is intended only for > the use of the addressee. It is the property of > JEE > Unauthorized use, disclosure or copying of this > communication or any part thereof is strictly prohibited > and may be unlawful. If you have received this > communication in error, please notify us immediately by > return e-mail or by e-mail to jeevacation®gmail.com, and > destroy this communication and all copies thereof, > including all attachments. copyright -all rights reserved Please use my alternative address, ji@media.mit.edu to avoid email auto responder please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE EFTA00669648 Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00669649