Central banks pursue digital bearer assets

This is IBM pursuing opportunities in crypto.  One should discount the importance of blockchain and enhance the importance of digital bearer asset.  Also one can ignore the concept of 'fiat' is is a badly used term, part of the 'This time is different..'.  Any digital curr3ncy has a digital bearer asset format, ot the currency is gone, soon.  No real digital cash, no currency,blockchain is completely irrelevant to the principle. The idea of eliminating cash was horseshit, simply some bozos attempting another fake 'This time is different' theory. 

Also, a point IBM is having trouble with.  Once we have digital cash we get digital assets of all variety via the personal contract.  The title to my house can be shipped around digitally as long as I thumb print the contract, it is law.  This idea is becoming consensus as I see folks using token beare asset rather than currency so as to generalize the concept.

Over the past year, Lund says he's met with 20 central banks exploring the potential benefits of issuing their own fiat cryptocurrency on a blockchain.Specifically, he described the "most durable digital asset" as one that is "issued by a central bank that represents a claim on fiat deposits in the real world," but still maintains "some semblance of monetary policy."Though he wouldn't reveal the names of most of the central banks with which he's meeting, he described them as largely comprised of banks from the G20, an international forum with members including China, Russia, the U.S. and the EU.Lund further described the central banks as "clients in some capacity." Based on these conversations, he said he expects the first central banks to issue a fiat currency on a blockchain will be "the smaller ones" with a high concentration of interest in Asia and North America.

All the banks  need to get bearer cash is a Swift command called 'Lock deposit account', and the lock function means the account is treated like a safe deposit  box.   Until the account is unlocked, the account owner can use the money as bearer cash.  But bearer cash contracts are robotically enforced,. How the bearer cash network enforces cash rules is not necessarily some blockchain. We have a variety of notary based bearer network enforcements.  The fake here is the bitcoin version of 'This time is different'. That part can be ignored, this is mostly about doing the digital equivalent of the $20 bill, an exact duplication, as I have stated endlessly.

Simple technology, that is not an issue. The main issue facing central banks is that the last version of 'This time is different' has run its course.