We need a parallel economic system that can not be traced.
Imagine an electronic money order. Buy with fiat, spend like bicoin, trade back in for fiat.
Almost like a high tech version of the Knights Templar's system. Each "draft" generated with an airgapped server. Checked against legit issued drafts on a checking server. Each time checked or transfered, destroyed and reissued with new checksum. Copies, only one works once. No tracing data saved anywhere. If counterfeited does not work yet can be backed up in multiple copies for security. A small fee for checking and for transfers pays for the system. No draft issued without an equal amount on deposit.
Drafts could be emailed, hidden in photographs or music, as a file on a phone or thumb drive. Draft traded for cash at will, made good by the issuer. No identification required to deposit or withdraw.
Unlike bitcoin, no complicated algorithms.
Just a small encrypted file containing the serial number and the amount of value. Checked against the issuers database.
Not for investing or for holding value. Just a means of electronic exchange. Untraceable.
Work out the details and you have a goldmine.
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