As 1 functional part of everything yes; but that is just one of the processes that would be required; there would a legislative, compliance, regulatory, etc sets of extensions that obviously would have to exist; and which we would love to work on.

A scrip, as an issuance of last resort, in case of let's say power going out, or the bill becoming so exceedingly high that you could not turn on the computer, would be required; though it would not have to be 'paper' necessarily; a chip; a magnistrip card, hard asset sales for recovery; but it's a 'component' of a larger 'unified' set of 'organizations'; decentralized things still need 'transport and transaction' mechanisms; these of course would have to researched as well.

The 'scrip' in this case would be a 'privately issued' currency note; one which is aimed at let's say the bank in canada, or usa, or africa, who has a client to directly interact with eachother, independent of the current systems. Direct Bank To Bank exchanges, transfers, transactions; in any currency obviously for use, and with the 'scrip of our creation' as the unit we peg to.