People love virtual currencies, and the United States of America ought to have one of its own. The solution is not to copy Bitcoin's code, but to create a centralized system that offers the same services. The system should store anonymous "addresses" and their corresponding balances. When a user wants to make a payment she sends a signed electronic message to the system. The system doesn't know who she is but it knows she owns the address. The addresses can be managed directly by individuals or indirectly through banks. The system's full data stream should be made publically available, one consumer being law enforcement agencies. The system would be connected to the ACH network so that the money supply does not change. The system would not know users' private keys.
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