I have a crypto coin that contracts for three day delivery of real gold, and visa vera I can have gold picked up. My crypto coin is gold, my banker is in the gold transport business and the banker issues a coin with variation about zero, delivery risk shared.
How is my banker different than standard S?L currency bankers? The gold crypto coin is the accounting gold standard in the precious metal delivery business. To the extent that the gold banker is doing a good job, I can also deliver platinum, silver, and a bunch of other precious alloys.
But the gold banker is setting the gold standard for gold delivery with a bound error. The S?L banker is delivering an inventory ticket, and interest charges represent delivery fees and guarantee inventory bounds are hard.
Same business, really same logistics problem, same original equation. But the precious metal delivery business has much greater currency risk, a risk still well within bounds for precious metals though. And that is exactly right, we need that coin and it looks, in the sandbox, like a discount coin, a coin that can be used in a specific well defined delivery network, like precious metals.
Jeff will steal the idea and create a special precious metal delivery service, door to door, I know that intellectual property thief. Once he delivers precious metals, then he has a coin backed by hard delivery, he can peg is other discount coins to it..
What makes the gold crypto coin safe?
On deliver or pick up, there is a live thumbprint associated uniquely, and secretly, with the crypto coin public ID. So, as soon as that tech becomes available we will get high end delivery services, much more efficiently.
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