The interesting thing with currency is you would need to track the notes to validate its valuation back to the holding. Sounds big brother and compromising privacy as well as opening up issues of theft as well.
I was looking on RT when a creator it was talking about electronic chips embedded in human bodies and acknowledging anything can be hacked. The trick for him was to reduce the reward so sure they can hack it but whats the reward.
With notes if its tracked then theoretically someone can locate note or a stash of notes e.g.. million in notes or whatever and organise a theft.
However, for accountability and valuation correctness what would be needed is for a note that was lost or damaged to be replaced to maintain valuations based on note supply and demand linked back to the international central holding of gold/silver. I guess the key would be to track a note to the extent it maintains its form but also it is not lost.
Apart from trust the currency would need to be pragmatic. I am thinking note tracking might not be the answer. The superior approach may be for a centralised international mint linked to the central holding repository to create the notes, per the guidelines with the design/features of the local countries govt/mint creation team if necessary, issued back to the local country mint for release and separate reconciliation. The notes would have features where when they are used they are internationally located and registered but the note itself could not be tracked which is a good thing for privacy and to promote autonomy and the will of the people decision making through the holder via the market of choice. So if a person or entity wishes to store/hoard notes, which would be legal, it could do so, but the notes themselves could be deemed lost over time because the international identifier mechanism would not have located them as passing through a machine identifier for all machines handling the notes. It would then be incumbent on the hoarder of notes to process them through a special international machine that, does not take the notes but recognises the notes through encrypted tag features, issues the holder a receipt of acknowledgement, holder still keeps the notes and therefore the international mint would not feel compelled to create replacement notes. No new notes could be created unless the relevant country wanted to provide more gold or the ratio of notes to holding was modified in transparency to all countries and humans on the planet.
