Quote from: newIndia on August 01, 2015, 11:10:50 PM

We already have many private ledger. They are called FIAT and stored in Bank's DB. Private... No ?

They are absolutely not private. And they are certainly not decentralized.

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Snoop Dogg stopped by Italian police and $211,000 cash seized
http://www.theguardian.com/music/2015/aug/01/snoop-dogg-stopped-italian-police-cash-seized

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US Court Rules That Kim Dotcom Is A 'Fugitive' And Thus DOJ Can Take His Money
https://www.techdirt.com/articles/20150227/18171630168/us-court-rules-that-kim-dotcom-is-fugitive-thus-doj-can-take-his-money.shtml

This is utterly unacceptable. If a man or organization holds money, no one should be able to deprive them of that money without a fair trial.

And private? Really? Kidding me? What do you think would happen if someone tried to transfer $400,000 to a foreign bank account? A TON of flags would have gone up and both governments would want to know why money was being transferred.

Fiat is about as NOT private as you can get.

The significance of this cannot be overstated: For the first time in all of human history, we have truly anonymous, decentralized, digital currency. That has never happened before, and it only came into existence in 2014. This is as big of a deal as the original bitcoin was, and possibly more.