Cool! I'm excited to see if this (or a similar system) ever gets battle tested, I think we need more innovation in how we do markets.
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One failure mode I see here is a hypothetical employer sending paychecks right before the tax hits, sticking the employees with the tax burden. In fact, I imagine there would be a monthly rush to spend and play hot potato. Would some sort of rolling window perhaps address this?
Of course, the spending is by design - it's the forced last-minute nature of it that i wonder about.
It looks like it's currently in limited release at the moment - how would somebody go about playing with this?
Is it just the verification that's private, or also the transaction history? Is it private in the sense that not even the central bank can track it, even with a code change?
How do you expect this system to compare to cryptocurrencies that do liquid staking + inflation, where there's a set amount of inflation, allocated to everyone who plays nice in the network? Does this come down to differences in views on inflation?