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Comment on Ripple fine in relation to BOLT

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Jeffrey Burdges 2017-05-19 21:50:46 +02:00
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30
doc/paper/taler.bib
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@ -68,6 +68,36 @@
} }
@misc{RippleFined-FinCEN,
author = {Steve Hudak},
title = {FinCEN Fines Ripple Labs Inc. in First Civil Enforcement Action Against a Virtual Currency Exchanger},
month = {May},
day = {5},
year = {2015},
note = {\url{https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual}},
}
@misc{RippleFined-ArsTechnica,
author = {Megan Geuss},
title = {Cryptocurrency maker Ripple Labs fined \$700K for flouting financial regs},
subtitle = {Virtual currency Wild West is done, registration as a Money Services Business required.},
month = {May},
day = {5},
year = {2015},
note = {\url{https://arstechnica.com/tech-policy/2015/05/cryptocurrency-maker-ripple-labs-fined-700k-for-flouting-financial-regs/}},
url_coindesk = {http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/}
}
@misc{RippleFined-CoinDesk,
author = {Stan Higgins},
title = {FinCEN Fines Ripple Labs for Bank Secrecy Act Violations},
month = {May},
day = {5},
year = {2015},
note = {\url{http://www.coindesk.com/fincen-fines-ripple-labs-700000-bank-secrecy-act/}},
}
@inproceedings{danezis2016rscoin, @inproceedings{danezis2016rscoin,
author = {George Danezis and author = {George Danezis and
Sarah Meiklejohn}, Sarah Meiklejohn},

9
doc/paper/taler.tex
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@ -332,10 +332,11 @@ In general, these off-chain payment channels, like BOLT and the
Lightning Network, improve the blockchain based payment schemes by Lightning Network, improve the blockchain based payment schemes by
centralizing payment processing, but they remain orders of magnitude centralizing payment processing, but they remain orders of magnitude
more costly than Taler with the same degree of centralization. more costly than Taler with the same degree of centralization.
In addition, they require that miners act far more like traditional In addition, they require nodes act far more like payment processors
payment processors than conventional cryptocurrencies, exposing miners than like conventional miners, potentially exposing miners to legal
to legal risks. Taler is explicitly designed to help a Taler exchange risks, not unlike the financial violations for which Ripple was fined
navigate these legal risks. \cite{RippleFined-ArsTechnica}. Taler is explicitly designed to help
a Taler exchange navigate these legal risks.
GreenCoinX\footnote{\url{https://www.greencoinx.com/}} is a more GreenCoinX\footnote{\url{https://www.greencoinx.com/}} is a more
recent AltCoin where the company promises to identify the owner of recent AltCoin where the company promises to identify the owner of