CryptoCash, the world 's first cryptic cash, is an entity currency that uses a string of symbols encrypted using perfect cryptography as an indirect substitute for value exchange. Issuer information and value information of cash are uniquely associated with completely encrypted symbol strings, preventing counterfeiting and fraudulent use.
By encrypting conditions such as credit information, usage conditions, interests, deadlines, Crypto Cash having various functions can be created. Since it does not depend on media, metal cash can be created by carving Crypto Cash on it or banknote can be created by printing Crypto Cash on paper. As with conventional currency, since it has entity of symbol string, it has three basic functions of "settlement of value", and "storage of value", "scale of value".
As well as currency based on metal or paper cash, Crypto Cash can be issued as a legal tender based on national governmental credit or as a convertible ticket with another legal currency. But like Hong Kong's legal notes, it can be issued by issuers such as banks or global companies. As guarantee of trust, it is also considered to be issued using the value of natural resources, in addition to precious metals such as gold and silver as collateral.
In the first place, cash is indirect substitute for value exchange, between two people, the smallest unit of value exchange, the value (or credit) that each other trusts is exchanged by exchanging its direct substitute which corresponds uniquely one by one. In the case of Crypto Cash, this is just an encrypted symbol string and it is nothing different from conventional cash. It prevents from counterfeit or fake use, and thus it is a better substitute with an unprecedented feature of not choosing a medium.
[Why do we need this?]
Ever since the Internet was opened to private sectors in the 1990s, commercial transactions on the Internet have grown explosively and have changed the traditional business custom fundamentally. And the world has dreamed of creating cash that can be used safely on the Internet. An experimental attempt to use the ledger in 2009 has been shown to the world. This is Bitcoin using a blockchain. Although Bitcoin demonstrated new ideas such as double trading prevention and consensus-building of all participants in the community, it has already begun to cause many problems due to structural vulnerability and limitations.
[What is the Cipher core platform?]
Provides cryptocash based platform by applying cryptocash technology which was designed originally for issuing legal tenders. Now, all issued (and will be issued) tokens /coins will be able to be evolved to cryptocash which will be the final form of historical currency by shifting to this new platform. Anybody in any community can issue any crypto cash that can be used on the Internet that does not require huge amounts of communication traffic or electricity, can be instantly settled and can be saved