Saturday 2 January 2016

Bitcoin & the homeless


Bitcoin is only of value where there is little or no trust. Street donations would appear to fit rhis perfectly.As an example say I wanted to donate to a homeless guy but needed to be sure it went on shelter or food and not booze or drugs.So what I am thinking is a multisig with a 2 of 9 where the homeless dude has 1 key and a hostel or kitchen has 1 key. Essentially this way the homeless guy can choose how and when to use his token.Prarically speaking this would involve a nfc card and an arrangement with the sevice provider. But am I right in thinking that the tech exist and is low cost today?Obviously this would all be auditable and could be tied in with social media to give the donner some positive feed back. via /r/Bitcoin http://bit.ly/1RgmEz5

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