Segmenting the crypto market

Blockchain in its variants, the tax ledger, WalMart value added points.  When calling the ledger service the coin is redeemed in the sense that any pending ownership changes are cleared. The coin is cleared by Walmart when you spend it.

In block chain systems, the large bank 'takes out' a side chain, keeps it for itself and brands the BofA BTC, or WellsFargo BTC.  All branded versions likely trade at par if none of them is jammed up on the block chain queue. The banks hold custody and let it scatter gather on its own in sponsored S&L pits everywhere.  Instead of a credit card, customers have permission to generate tokens, validating your access to S&L as needed.