Ov1, a Taoist Bitcoiner on Nostr: There IS a perfect match though for private businesses and membership associations to ...
There IS a perfect match though for private businesses and membership associations to operate Mints withoutt government or centralized rug pulls. Any organization, not serving the general public, can use eCash as an in-house accounting system. Perhaps as payroll systems that can be redeemed into LN sats on-demand by employees for saving or spending outside the 'company', using eCash within their closed system.
Private Membership Associations are another example of where semi-trusted Mint operations can manage identity, reputation, and compliance risks for Members. When joining the Club, ID has to be provided for the signature on the contract to be valid. But only to the witnesses of the contract.
Once that public/private firewall has been passed Members and the Mint are not running a MSB serving the public and therefore are NOT subjuct to the jurisdiction of the Nanny-State charged with protection of the general public. The Hosts are merely providing data storage and transmission services for the Membership.
Private Membership Associations are another example of where semi-trusted Mint operations can manage identity, reputation, and compliance risks for Members. When joining the Club, ID has to be provided for the signature on the contract to be valid. But only to the witnesses of the contract.
Once that public/private firewall has been passed Members and the Mint are not running a MSB serving the public and therefore are NOT subjuct to the jurisdiction of the Nanny-State charged with protection of the general public. The Hosts are merely providing data storage and transmission services for the Membership.