Oddbean new post about | logout
 What if you could trade on an exchange – but the trades would happen off-band and peer to peer using ecash issued by the exchange.

This ecash would be traded between the users with no one between. 
 Is this money transmitting?  
 Depends wether our overlords like it or not 
 Then how is the exchange platform going to track the bookorder if trades happen offband? 
 Could that work for complex order types, or is it limited to only simple maker/taker market buys (can’t really think of how you’d add limit orders etc unless the mint can check that when someone tries to redeem)