I like that this actually covers why each piece is needed.<p>My only beef with this system is the proof of work, which leads to an arms race in electricity consumption. Proof of stake is better, and frankly, distributed timestamps don't need a race to solve a problem every time something has to be timestamped.<p>For currency, it would actually be nicer to have a system that treats trust/credit/reputation as the scarce resource. It would help people who aren't rich in the traditional sense nevertheless organize and help each other, and would allow people to "create their own currency" in communities, or the equivalent of that, that they aren't able to do now.