That was the idea in part one. Define a company whose sole purpose is to match sock value with par dollars at fixed rate. Hedge funds do this, this is also some of Big tech.
The company simply registers the histogram of stock against an exact histogram of money held in on demand deposits. Nothing more. The company is nothing more than an automated transaction service between the company stock block chain and the company deposit block chain.
It is pure money for the stock exchanges. To buy the stock is to have an on demand shadow account. The stock should swap right across at market price for other stocks. Money earned on deposits cover any transaction fees.
The sock is short chain,there is a mandatory re-issuance of stock per year, it is free. Thus the short chainis always clear of stale stock, unbartered stock. History always erased.
Internal to the machine is a stock market, running by trading par stock with real stock, and the transaction fees nearly zero.
The stock is always visibly very close to par, the only difference being Swift congestion. The stable lock is legal, the balancing code is straight forward, defined in he stock certificate, treated as an iron clad dividend deal of zero. All transactions automated, except stock swaps handled by customers.
Government will call it a currency and claim the monopoly on dollars, try to shut it down. They will win this in the Supremes, I think. All I have done is translated the Swift cash protocol with an equivalent stock company.
So, it is a currency, stable dollars, then the exchange is still short chain and mapped to deposits on demand accounts. I can still run a stock exchange, people trade stock certificates for short change dollars. So now the regulated banks want me prohibited still. That means policing a world of Swift banks as I go underground.
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