Bearer cash vs short chain cash

 True bearer cash requires hand held, biometric secure contract enforcement, smart card. It comes complete with no double spending enforcement, so bearer cash requires no external access from cache to trusted miner.

Short chain cash requires only one access to external miner, the receiver. The sender has already repurchased the counter party miners service, and can wait. The cash coins themselves are encoded and self validate on the short finite shard.  So spending on the short chain does require a pass code from the sender, given along with the transaction script. That secures personal cash, the receiver is always validated if it is first.

So the vendor typically has no more delay than a credit card. And with trusted parties, the vendor need not register on the short chain shard immediately, as long as he has local digital storage. 

Consider me and the corner store owner. We run a coordinated short chain, on paper, tied to Swift.  We make two Swift exchanges per month, but that includes about forty purchases, kept on paper short chain. We are two proof of stake miners. We could skip the paper if we had a simple, non secure, hand held account manager with near field. No secure enforcement needed, he know my calculator is fair and visa versa. We would be a shard off the Swift ledger. Our count is about forty, our bound is about 400, and our time limit is at least once a month, except property tax month, he carries me 3/2 months.

The contract is simple once one understands short chain cash, it is a local block chain shared by the only two vested parties in a payment contract. The contract is provable, because if I break it I have a much longer walk, if he breaks it he is likely exiting.  I take the minor loss as over the life of repeating this single contract, i have saved many dollars in cash and transaction fees. And we both use credit, when the balance is in his favor, he buys stuff I like in larger bulk. When he carries me I pick up surplus inventory and keep his little store balanced. It is almost down to an inventory service fee as all the transaction costs are do it yourself.