Offline SafeCoin transaction?

Autonomi Network Token
1

Hello guys, I saw someone mentioning about this, and I was wondering if such thing is possible.
The overall picture I have is that SafeCoins are a “thing” that basically we transfer ownership signing cryptographically over to the recipient.
But how can we protect against double spending without the consensus?

IF there can be offline transference of SafeCoins, that will be extremely useful for its adoption as a true alternative of cash.
I had to suffer in the flesh the painfulness of being disconnected or having shitty connections in bitcoin transactions. There was this tragicomical incident where I was about to sign a contract in a lawfirm, but they had no WiFi, only ethernet cables were available. There was no Cellphone signal either. I had to crawl under the lawyer’s desk to get a ethernet cable and connect it to my laptop to finally send the expected bitcoins to close the deal.
That’s when I realized that Bitcoins are not suitable at all for cash replacement -at all.

2

Offline to with Bitcoin may become reality soon

3

You can’t do offline Safecoin transactions, what you can do (see the Safecoin white paper) is give someone a file which you say (they have to trust you) can be used to collect an amount of Safecoin by submitting it (a pre signed transaction) to the network. At least that’s how I recall it works! :smile:

I think that to create this you have to have, and “lock up”, an amount of Safecoin, but anyone with the file can collect this, so it doesn’t prevent you grabbing the coin yourself and then giving out a file that has already been spent.

1 Like