Cryto EFT is the first widely-accepted system for helping people save money without losing it. It’s designed to be easy to use, but does not require anything more than a basic understanding of personal finance. It uses the same fundamental principles as other financial strategies.
But Cryto EFT also has something many other financial strategies don’t: a way to automatically keep track of your money and quickly restore any losses you might suffer. It has been shown to be a powerful tool in the hands of anyone who wants to protect their savings, even if they are completely new to personal finance.
Cryto EFT is a small but growing field of computer science. Cryto eft is a particular kind of cryptography, like digital signatures and public key encryption, except that it uses the power of computers to do much more efficiently what humans have always done, namely, secure communications.
Cryto EFT stands for cryptological eft, and is a form of eft (digital signature technology) that makes use of the properties of public-key cryptography.
Public-key cryptography is a technique that allows two parties to exchange information without it being read by anyone except those intended. The information is public, but it cannot be read without both parties agreeing a secret code known only to them.
Cryto EFT uses these techniques to exchange digital signatures between two parties, and makes sure only those two people can read them.
Cryto EFT is a useful form of communication. Cryto is short for Cryptography, a major theme of this book.
Crypto enables people to communicate securely and privately. It isn’t just used to protect governments from each other’s spies (although that’s part of it). It can also be used to protect people who have something to hide — and if that something isn’t illegal it may still be embarrassing.
Cryto eft is the most technical form of cryto, using cryptography as its basic building block rather than as a means of protecting messages that are illegal or embarrassing.
Cryto-EFT is a system for creating a new kind of money from nothing. Cryto-EFT is an improvement on the original idea, which was called e-gold. This system does not involve computers or any other technical apparatus. It relies instead on the same principles of scarcity and demand that make gold valuable. Like gold, cryto-eft can be used only by people who have it, and like gold cannot be counterfeited because its value comes from time preference, not just from its weight.
Cryto-eft is based on a currency called “e-bits.” E-bits are a real thing that will exist in the future (and in the past). They are not yet real, but they will be when the cryto-eft system goes into effect. The e-bits will look like paper money, but they will be digital: bits of information that represent things that can be bought or sold (like food stamps or airline miles), which itself is just another way of saying that they represent wealth (food stamps and airline miles).
To create e-bits, you use cryto-eft to “mint” them out of thin air. There’s no physical object involved: you don’t have to take physical
The term “cryptography” carries a lot of confusion. It is not a synonym for encryption, and it is not the same as “cryptanalysis,” which is the study of how to crack encrypted messages. More than any other field, cryptanalysis got the reputation of being difficult and arcane because there were so few people doing it well.
It was once thought that cryptography would be an important new field for mathematicians, but in fact it proved to be one of the easiest areas for computer science to exploit. There is no need to understand mathematics to use crytosimulations or ciphers, and there are many people who don’t. The most important thing is simply to know the terminology and techniques.
Crytosimulations use mathematics to turn out “random numbers” in a way that cannot be predicted by anyone who doesn’t have access to the computer on which they are produced. A simple example of their use is generating passwords by mixing letters randomly with digits (the password “abc123” has 3 random characters: ab, c, and 123).
A crypto economist is an econometrician or an accountant who has learned a little about cryptology. Because I am not trained as either of these things, I had to learn from scratch how to do them.
They say that you can’t teach an old dog new tricks. That’s true; but if you want to teach a dog something new, it helps if the instructor has some of the qualities the old dog lacks.
Crypto economics is a lot like accounting and econometrics in other ways: it’s formal and mathematical, but it still uses words and numbers. And though its practitioners have learned a bit about cryptography, they have not yet mastered the art of using cryptography itself to protect their secrets.