this post was submitted on 24 Oct 2024
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Thank you for mentioning GNU Taler.
I have freshly read an interesting article https://www.leafscore.com/blog/the-9-most-sustainable-cryptocurrencies-for-2021/ (the link is weirdly recycled, it is a 2024 piece), showing that there is a number of altcoins (and I use this term deliberately - no ETH or BTC included) trying to solve both the technical and political faults of the initial concept. I believe that, if one designs a currency properly in political sense, the technology can be adjusted as well.
I'm skeptical if such a thing can be done with crypto specifically.
As an example, the top coin in that list, Solarcoin, uses a Proof-of-Authority model, which while very energy efficient, is also difficult to decentralize, and vulnerable to the 'authority' acting maliciously. It's cool that it's based of solar power generation, but I can't help but feel that just means the people who are wealthy enough to own solar panels would become rich compared to the have-nots?
Stellar, on the other hand, uses a Federated Byzantine Protocol, which... Honestly it's too late for me to try to understand it 😅
I guess I have to ask: what is the goal of the theoretical altcoin? Are we spitballing a currency for a post-capitalism world? Something for us to use in the here and now to avoid PayPal fees or zelle? A method for activists to covertly transfer funds?
The reason why will inform the what.
Partly, I answered here: https://slrpnk.net/post/14539748/11723741
As for the scope of it, I see it as a bridge solution for the stage where we still have to interact with capitalist realm, but can already start building our own (post-capitalist, solarpunk, anarchist - whatever the name) real economy, so we need an inter-community exchange token. There should (nor will) not be a uniform solution for every community involved, so we need something to use as a mediating value carrier.
As such, it may retire at some point in favour of something better suited to the new world needs, or survive - like gold today - in mostly symbolic role.