No blockchain needed. This is a repeat post, and I do repeat.
Make the bitcoin web wallet a secret and pass that around without duplication. At any time, the owner can open the wallet and spend the do-re-me. This is both a general method, and a general proof that all real assets can have a digital counterpart,as long as we have a personal contract system.
It also illustrates a point of contention. We can secretly pass around central bank account numbers, as cash. Except for one thing, the know you customer rules. The know your customer rules is a violation of digital bearer asset.
The point of contention is solved because one of us can prove that the observables in an unregulated pure cash ato network are equivalent to the observables under any money technology. It is the nature of banking to always maintain maximum entropy, anything seen would be from real structure, discovered inside information, or from out of band noise, a counterfeit. Regulators and embezzlement cops will do just as well, but with fewer transaction costs.
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