I’m fairly new to bitcoin, but the idea is intriguing. I wonder if governments ever considered using a cryptocurrency as a method to exchange debt. Instead of treasury notes, selling a bitcoin type of currency could open a world of governments exchanging debts to other governments, companies, and citizens via internet at a real-time pace. A country would simply sell the currency instead of notes, and the newly created “notes” could be traded. There would have to be a consensus world-wide to recognize the currency and for a country to be able to create the debt in the first place. In order to issue the currency, a vote of issuing countries would have to approve. A currency out of nothing but an agreement to recognize it world-wide. Global trade would of course be impacted in ways beyond belief, but crisis such as recessions could be simply resolved by agreeing to a future trade to reconcile the debt amongst voting members of countries. Worldwide productivity would never have to slow in a perfect world. Citizens could even get a piece of the action in owning their country and it’s neighbors. Crazy concepts can be developed when toying with this idea, some way beyond me. What would a world look like if selling debt of a country to a different country in real-time? Oh the possibilities….
I own Sweden!!!