A one step transfer of digital cash from me to you, both parties can verify the watermark and there is hardware guarantee against double spending. Watermark is where the term crypto comes in.
The Fed needs to express its opinion. The US Government seems to be leaning against it. This is cash, an integral part of the monetary system, the Fed should have an opinion. They should be aware of the arguments, and make some sense.
My claim is that enforcement is just as relatively efficient in the new system as old. Credit limits apply, and can be guaranteed back to the chip vender. Trade books are as readily available to view. Warrants are allowed at the contracts level.
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