Sandbox not uniform says Bullard

The rise of cryptocurrencies, Bullard pointed out, is harkening back to the 1830s when money was privately created. Digital currencies have brought back “non-uniform” currencies in the United States, which could be problematic, he suggested. Non-uniform currencies don’t have a good track record, and when they’ve emerged historically they’ve never lasted long.

We have a consistent currency definition. They are digits, give them to someone and they will almost always deliver a goodie.

A simple, mathematically useful definition, operable in auto priced pits.  Another name is the cash transaction.   It is the simplest transaction, and we go up from there with multi-step conditional trades.

All of these  'tokens' have priceable outcomes, we know where they queue, all of us. Knowing all paths means we can do pure liquidity, over some finite number of trades, in our escrow net or on the swap nets.  Our nets allow us to deposit tokens on the ledgers or deposit them in auto traded pits or do over the counter trades directly in swap net. High volume secure transaction, easy with our pipeline control in escrow net. We define currency right in the Intel instruction cache.

Sandbox does central banking, you will love it, Mr. Bullard, your research staff will correct your misunderstanding.