I’m interested in this. The problem is that if people consider the value provided by the different currencies at all fungible, side markets will pop up that allow their exchange.
An idea I haven’t thought about enough (mainly because I lack expertise) is to mark a token as Contaminated if its history indicates that it has passed through “illegal” channels, ie has benefited someone in an exchange not considered a true exchange of value, and so purists can refuse to accept those. Purist communities, if large, would allow stability of such non-contaminated tokens.
Maybe a better question to ask is “do we have utility functions that are partial orders and thus would benefit from many isolated markets?”, because if so, you wouldn’t have to worry about enforcing anything, many different currencies will automatically come into existence and be stable.
Of course, more generally, you wouldn’t quite have complete isolation, but different valuations of goods in different currencies, without “true” fungibility. I think it is quite possibe that our preference orderings are in fact partial and the current one-currency valuation of everything might be improved.
I’m interested in this. The problem is that if people consider the value provided by the different currencies at all fungible, side markets will pop up that allow their exchange.
An idea I haven’t thought about enough (mainly because I lack expertise) is to mark a token as Contaminated if its history indicates that it has passed through “illegal” channels, ie has benefited someone in an exchange not considered a true exchange of value, and so purists can refuse to accept those. Purist communities, if large, would allow stability of such non-contaminated tokens.
Maybe a better question to ask is “do we have utility functions that are partial orders and thus would benefit from many isolated markets?”, because if so, you wouldn’t have to worry about enforcing anything, many different currencies will automatically come into existence and be stable.
Of course, more generally, you wouldn’t quite have complete isolation, but different valuations of goods in different currencies, without “true” fungibility. I think it is quite possibe that our preference orderings are in fact partial and the current one-currency valuation of everything might be improved.