Is B&C possible to become a "paypal" company?

B&C Exchange
#1

In B&C exchange, the customers’ BKC ID are their only idenfication.

If alice and Bob are both customers of B&C, Can Alice send 10NBT to Bob without submit to blockchain? In this way, we achieve OFF CHAIN instance & high volume transaction, the transferred NBTs are still multi-sig by 16 signers.

Open transaction has been trying to do this for years.

If we have stable currency NBT and off chain instance transfer mechanism, bright future!

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#2

But they would need to use B&C blockchain right? Could you give an instance?

1 Like
#3

Sabreiib, could you give a more detailed description?

#4

For example, I’ve sent 10 Btc to B&C to place ltc buy order, those 10btc held by 16 signers before my transaction is completed, and you also have 20btc held by the same 16 signers.

Now I wanna send you 1btc. Can I inform 16 signers that just update our balance? i.e. , those 16 signers confirm I have 9 btc and you have 21 btc now.

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#5

This may or may not be the original line of thinking, but could B&C facilitate better transactions than than can be performed in a given crypto’s native blockchain?

i.e.: if Bitcoin hits its 1 mbyte limit and/or spam problems continue, could individuals or companies move Bitcoins between each other on B&C and either get better transaction fee rates or faster confirmations?

I understand if this is out-of-scope for any initial effort. I am curious how far the design can be pushed.

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#6

I think it’s beneficial for B&C Exchange if the discussion takes place at a location with a broader audience:
https://bitcointalk.org/index.php?topic=1033773.msg11876798#msg11876798

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#7

I don t know if B&C could offer cheaper fees or faster confirmations but someone could have a bitcoin wallet without downloading the whole blockchain and without having to trust a server I feel.
This is linked to this .