Tethered Money

Prof. Gideon Samid, PhD, specializes in engineering, economics, cyber-security, and cryptography. Following on his PhD dissertation Gideon has been developing the Universal Theory of Innovation which codifies the generic aspects of Research & Development, and which accelerates the innovation process by focusing on the credibility of the estimate of cost-to-complete. Applying the same for cyber-security, and exploiting his granted patents for a new dimension in cryptography (equivocation v. intractability), Gideon realized early, (2008), the multi-dimensional impact of frictionless payment, crypto-secured currency, and tethered money. He has been building-up this vision ever since; bringing to bear a wealth of cyber-security experience, engineering design, and economic analysis of high-uncertainty projects. Gideon earned his BSc., MSc., and PhD at the Technion -- Israel Institute of Technology; learned his craft serving the State of Israel, working at the Pentagon, Exxon, NASA, SAC, Presearch etc.; running D&G Sciences -- Innovation Productivity Corporation, and recently serving as the Chief Technology Officer at BitMint, LLC; also teaching cyber-security, cryptography, and digital money at the University of Maryland, University College, and at Case Western Reserve University. Gideon authored over 50 peer-reviewed technical articles, and a handful of critically acclaimed books.

• Introduction: Tethered Money—A Game Changer1. Money: An Irreverent Analysis2. Tethered Money—Use & Impact3. Money: Undisclosed Security Issues4. BitMintWhat’s Next?Appendices

"Digital currency is a hot topic these days, and I can’t think of a keener mind than that of Gideon Samid to examine it. Gideon has that rare gift—the ability to explain complex subjects so that just about anyone can understand them." --John Stewart, Digital Transactions Magazine"As one who has a professional interest in virtual and crypto currencies and how such technologies will necessitate changes in the payment and compliance landscape, I find this book a worthwhile read, particularly to those who need to quickly understand tethered money." --Kim-Kwang Raymond Choo, University of South Australia "So many things about new forms of money you might have never asked, and now you have a chance to learn." --Jana Hromcová, Universitat Autònoma de Barcelona "It is my opinion this book is a definitive analysis of the importance of understanding the ramifications of the probable acceptance, and transition to economies based on non-sovereign issued virtual currencies. Gideon Samid's insights as an authority on the attributes of a transparent tethered currency model are compelling relating to how this type of virtual currency model can potentially offer an added level of control to assure the appropriate utilization of funds as intended when transfered by individuals, governmental, or quasi-governmental organizations, especially significant for countries where currency transfers can be virtually impossible." --Daniel Schwartz, AMIDEX35 Israel Mutual Fund"An extraordinary set of new ideas making digital money more versatile as we have ever seen before. Prof. Samid's unique style puts future technology into a historical frame. Couldn't stop reading his technical explanations built on daily life examples ..." --Helmut Scherzer, Giesecke & Devrient"Most of the traditional money supply is bank money held on computers. This is also considered digital currency. However, central bank representatives have stated that the adoption of digital currencies pose a significant challenge to central banks' ability to influence the price of credit for the whole economy. Prof Gideon Samid is utterly convincing that the future lies with such currencies and that most criticism is not an impediment on their ultimate use. The above criticism is about resistance to innovation. While the result of innovation can be excellent new products and services, one reason innovation is difficult to do is the undeniable fact that innovation introduces change. Gideon Samid’s new book is all about managing the DIGITAL CURRENCY CHANGE." --Boaz Barack, Centralway Ventures AG"A must if you want to have a very accurate picture of today’s issues and future prospects related to digital money with special stress on security and usage" --Francisco José Callado Muñoz, Centro Universitario de la Defense (CUD) de Zaragoza"Gideon Samid's Tethered Money describes digital currency technology available that is able to revolutionize how humankind exchanges currency in a safe online environment. As an attorney, I am thrilled that digital currency technology exists that can very literally, by its own operation, enforce the terms of a contract. As an individual, I welcome the day when governments use, and require entities to use, existing, less risky technology to ensure my online transactions are safe. Samid's work contains more than theories - he provides step-by-step instructions demonstrating how to move past the current, cryptographically unsafe third party payment processing systems and the waste and bulk involved in carrying coin and paper currency. I am looking forward to living in the world he describes." --Maryann M. Bullion, Esq.