Stable coins are tied to a particular fiat by matching fiat bank accounts and 'safe rate' bonds. They are a bit of a currency banker and the stable coin should always be within a half a point. It will never be accurate.
The accounts are published, and any counter party listed in the ledger can drill down and verify their liability or asset. Block chain verification is not needed, it is the fiat verification that clients pay for. I am not ruling out block chain, it is still an OK to track stable coins, but ultimately users want fiat ledger verification.
Can stable coins be bearer asset?
Sure, it will be easy to pass around ATM cards with stable coin on account, one way or the other. So the ATM pre-paid, is considered hand to hand cash. Bringing us back to smart card, why not have everyone keep one pre-paid ATM card, smart enough to hand secure digits back and forth.
Here is a good example from one of the fintech blogs. California government likes them, they are just digital tax dollars and exchangeable for tax dollars within a half point, that is a small fee for the convenience.
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