- Apr 9, 2014
If you are someone opposed to central banking, I suggest you look into Dash. It is poised, by the end of next year, to release Evolution - an update which puts a third tier on their network (they pioneered the multi-tier blockchain network, along with being possibly the first Decentralized Autonomous Organization (DAO), and the first crypto with on-blockchain decision making about the direction of the project), creating the world's first decentralized, not-for-profit mutual bank, which pays interest on accounts, allows the users to control the bank as shareholders (owning Dash and parking it in an interest bearing savings account for any amount of time makes one a shareholder, and you can withdraw at any time), the peer to peer transfers will be free, and the user interface is more user friendly than other cryptos (think less long randomized crypto addresses, but instead a PayPal-esque User Interface, with those addresses running in the background, and a new address being automatically applied to each transaction for privacy, but under the same Username for ease of use). Transfers are already able to happen and be confirmed in less than a second (1.3 seconds is usual, and no more than 3 seconds is guaranteed), via InstantSend, it has a very cheap option to anonymize your digital cash for privacy (PrivateSend), and it is the most Sybil Attack resistant cryptocurrency out there. Mutual banking is becoming a reality. The end of central banking may take a long time, but this will be the beginning of the end.
“This actually replaces fractional reserve lending, essentially,” said Duffield.
As Duffield states, “It is perfectly decentralized,” adding, “the concept is a mutual bank where the actual clients own the bank . . . [and] the bank is essentially run as a not-for-profit.”
Website (which was bought directly from the blockchain via their DAO from someone who already owned it):
Youtube page (you may recognize Amanda B. Johnson, the host of their weekly show "Dash: Detailed" from the liberty movement. She's associated with Jeffrey Tucker, the Austrian economist, as he gave her the very first Bitcoin she ever owned, and used to go by "Amanda BillyRock" and spoke at liberty events like Porcfest, and also, I think, did some "Adam vs The Man" youtube shows with Adam Kokesh back in the day, plus did her own show "Daily Decrypt" right before joining the Dash team with her own DAO on the network...she was hired right from the blockchain, and anyone can apply for a job on the Dash network via means explained in at least one of her videos and on Dash's website/forums):
You can find many news stories about Dash on crypto news sites, and even on NASDAQ's tech page recently.
Disclosure: I am not an official member of the Dash team, am not employed by the Dash network, nor do I own enough to currently run a Masternode (they are collateralized at 1,000 Dash). I do own a small amount, and recommend no one ever invest anymore than they can afford to lose in crypto projects due to the high risk of such ventures. I would remark though, high risk can yield high reward, and I invested in Dash when it was still under the name Darkcoin, and in the last year alone it has increased in value 400%. I can answer some questions if you like, but it's best to go to their Youtube page linked above to watch their videos meant to answer most questions.