Meanwhile, back at the metal money ranch they're having a few problems with counterfeiting.

How secure does InstantX have to be to improve on the UK Royal Mint ?

(a) - Beat a 3.5% counterfeting rate  
(b) - Qualify as "cash" under the new ECB definition by enabling account-to-account clearance of funds in around 5-20 seconds
(c) - Not require re-tooling of thousands of physical metal vending machines











...so no settlement layer. Only realtime, account-to-account payments can qualify as an electronic equivalent of cash moving forward.

GMaxwell & Co's super-imposition of a legacy fiat style clearing model on top of a cryptocurrency blockchain didn't chime with Satoshi and now it doesn't even chime with the European Central Bank