Bearer digital cash and timeouts

At the network level, we clear the pathways with timeouts.  But we also support multiple currency regimes.  The cash renewal process is defined by the currency regime contract. Sand ox has nothing to do with that.

Sandbox is ll about unbiased congestion management.  It is forced, ultimately and over very long periods into an ergodic system because all the equipment is ultimately flat earth, it can get overly congested.  But these cash cards can execute an anonymous cash renewal according to its own defined cash management function. Timeouts are a contract stability requirement. A Spectre compliant instruction cache does not want to hold cash indefinitely. The trusted miners want cash market to market, on occasion, by validation in the defined currency ledger.

A mechanical necessity that allows multiple currency regimes and contract types within the secure card. The cards do cash, make it bearer, but ignore the congestion effects.  Provability of contracts, however, demands timeouts. Ultimately all escrows close.

Making a pure gold currency digital regime.

In this case, gold is forever, so the cash renewal regime is identity. Simple. The ledger is a image provable pile of corresponding gold storage, the camera can identify the serial numbers of the bar and match that to digital gold.  Easy to do. One could easily make gold as liquid as a $10,000 bill. 

From the cards point of view, that is as liquid as a digital penny.  But the utility drops way down because there is no easy way to make change. 

So we invent the mechanical gold ledger.

A neutral, digitally managed, automated  storage system of bags of tiny gold nuggets..  To split the large bill, the assembly line can keep every thing in provable, sealed bags, down to the $100 bill size.  That can be proven as well as a chip vendors master fab can be proven.  

You have this mechanical assemblage that can fill and empty plastic bags with tiny gold nuggets, properly weight and label them to unique, provable owners. You have court provable digital documents that the gold reserve has your nuggets.

The mechanical gold safe deposit box.

You get camera shots of the gold containers, and they are weigthed continuously, and the image shows the owner public identifier. Now, with that, one can implement a chain or provable cash operations that are finite in length. Do it with a block chain, do it inside card cash operations, do it with cash division call back to gold storage, and u that division on secondary provable image.  The stack of provable contract chains must be renewed to verify congestion i optimal, timeouts.  It was a proven necessity for exchange protocols in networks long ago,  sandbox has it.

In sandbox, simple provable contracts can make you grandma's false teeth liquid. But liquidity means I can carry a hand held stable contract manager up to the level of counterfeit. That is cash, a handheld gold nugget, a silicon proven ownership of a gold nugget elsewhere. They both have one thing in common, eventually the transaction will want it provably weighed, a timeout. Sandbox enforces it, but not at the card layer. The card only enforces no double sends of cash in he cash channel between cards. All proven cards ill not double spend or timeout on cash.  But Specre compliance means all cards expire, and he account register is gone, so it the cash. There is no longer a provable owner, outside of human agreement.  The lether wallet can wear out, but all that foreign antique cash is still the same with the new wallet.  We cannot enforce cash timeouts at the handheld level except by volition, it is Due Process. Cash functions are deferred to the currency contract.

When the digital is a pure as gold?  And a gold bug has 1 thousand tons of it at gold storage, provable, but his pure cash car and his live thumbprint are on he bottom of the ocean in ship wreck.  That is contract instability as all connected paths are not provably resolved.  Contracts ultimate need ledgers that prove the imbalance in ledger risk, generally in the reverse on timeout fee. When it takes a hundred years to find this old lady's wrecked sail boat and retrieve the cash card? No, not happening.