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This "synthetic" balance does closely remind me of "uninsured" balance I proposed for XLN (Lightning, extended with credit lines to solve capacity problem) https://github.com/fairlayer/wiki/blob/master/04_four_balanc... The difference is synthetic balance is offered to be enforced from the collateral from the escrow. In XLN I proposed to try to enforce it by taking it from the other party's onchain balance. Both options would work together even better ("synergy" haha)! From the first example: 1. blockchain dispute resolution code tries to take USDC from Alice's onchain balance (since Alice owes 750 to Bob). 2. if Alice still owes something, try to convert any other Alice's onchain balance into USDC using oracles, then return to Bob. PS. will finish reading the paper sometime soon, so not sure if got it wrong. Overall, happy to see new sol

The value is too volatile in most crypto schemes to enable anything like remittance or other consumer level transactions. You need either a stablecoin scheme, which introduces a centralized authority (and in that case, you've reinvented paypal and people will just use paypal) or some reliable method where your coins can be sold immediately at a guaranteed price otherwise if you want to send $50 to your cousin in the developing world by the time you've wasted time going through all the hassle of doing so they're now worth $25. For your off chain problems Egor Homakov's Failsafe Network (now called Fairlayer) addresses that problem https://github.com/fairlayer/wiki For your request of being able to just pay with your phone anywhere you go, with an easy to use interface that registers payments immediately, Moxie's mobilecoin project may be