The second aspect we exploit is that a transaction whose output values are greater than the input values is invalid (for obvious reasons). This means that it is safe to send the contractor a transaction that issues such coins – it is impossible for him to claim the coins unless he has other entries that add up to the issue value or more. Imagine, for example, a consortium of companies that issue EURcoins, a cryptocurrency secured 1-1 by deposits in the consortium`s bank accounts. Such a currency would have a different set of trade-offs than bitcoin: more centralized, but risk-free FX. People might want to exchange bitcoins for EURcoins, and companies are only involved when they invest in the regular banking system. .
September 9, 2021