Towards auditable liabilities of ecash mints.
Discussion
🙏
I am very excited about this. If ecash allows for real-time auditing of custodians, it would be like an earthquake that completely modifies the landscape of non-custodial vs custodial trade-offs.
What are the main challenges, obstacles or design flaws that you are facing?
Amazing!
Hmmm, so much to think about here in the game theory of how mints and users might interact through lightning with this. I guess nothing stops the mint from stealing your deposits, but then that mint would be out of business, and B mint would only work with C mint if C had passable audits. D couldn't siphon funds (in cahoots with C mint) because that bitcoin would still be locked in channel, so its not any more useful than C mint stealing straight up, as soon as a rebalance happens its over.