Quote from: Slow death on August 08, 2022, 11:24:58 PM

1 - who will prevent you from printing unlimited notes?

2 - who will regulate and issue these notes?

In Africa, corrupt governments are very tough, they love centralization and total control of the population, and more they love the local currency very much, they always sing the same song: "our local currency is the symbol of our sovereignty, and our story ". so if you arrive with a note that is not from any country in any country in africa they can arrest you! just be careful when it comes to getting involved with governments in africa

As long as the notes are loaded with btc, their issuance is strictly limited to the supply of btc on the note. An escrow account or simple smart contract guarantees that the issuer doesn't circulate the notes before they are loaded, and prevents them from being circulable once they are redeemed. This would eliminate the need to frequently verify the note.

The ability to verify the note electronically is a second layer of security regarding the integrity of the note.

Regimes that claim to be friendly to bitcoin would still be subject to the smart contract, and could freely issue the note under those parameters. But bitcoin notes do not require any "government" in order to function. Their acceptance of bitcoin and especially bitcoin notes facilitates and speeds the inevitable bitcoinization of the world economy.

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