I just read the following article about Ecuador’s plan to implement it’s own national state driven crypto currency named “Cryptocentavo”.
http://www.cryptocoinsnews.com/news/ecuador-first-nation-create-digital-currency/2014/07/31
The point of the author seems to be, that the security model of cryptos is based on decentralization and this cannot be preserved when the central bank of a country is in charge of managing a crypto.
What if they just decide to issue their currency as peer shares? Then the denominations would be tradeable and would be secured by the decentralized peercoin network, right? I always read sidechains, but didn’t fully understood them yet. May they be a solution for Ecuador’s central bank to control somehow the distribution of their crypto, but outsource security somehow?