Generation, Security and Distribution of NationCoins by a Sovereign Authority

Kartik Hegadekatti and Yatish S G

MPRA Paper from University Library of Munich, Germany

Abstract: NationCoins are cryptocurrencies backed by Sovereign Authority (Simply put, they are Government issued Bitcoin-like cryptocurrencies). In this paper, we explain the generation, security and distribution of NationCoins by a Sovereign Authority. We begin by explaining the concept of cryptocurrencies (also referred to as cryptocoins in this paper). We then discuss the concept of Regulated and Sovereign Backed Cryptocurrencies (RSBCs). Then we envision a scenario where cryptocoins are a main medium of exchange in an economy. The generation, security and distribution of NationCoins by a Sovereign Authority are deliberated. Finally, the paper concludes by outlining the functions of the Sovereign Authority vis-a-vis NationCoins.

Keywords: NationCoins; K-Y Protocol; Bitcoin; Cryptocurrencies (search for similar items in EconPapers)
JEL-codes: E41 E42 E51 O14 O31 O38 (search for similar items in EconPapers)
Date: 2016-12-21, Revised 2017-01-07
New Economics Papers: this item is included in nep-mac and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:82621

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