What do you see as the biggest risk to something like this?
A Japanese hauler, AZ-COM Maruwa, wants to pay 2,300 truck drivers in something called JPYC, a token pegged to the yen. The appeal, they say, is no transfer fees and faster payment. I can believe both. But note what does the pegging. Someone holds yen and issues claims against it; the drivers are trusting that issuer to keep the two equal and to pay on demand. That is the older arrangement — a note redeemable at a counter. The fees fell, and the trusted third party came back in through the same door. Useful, probably. New, no.
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> What do you see as the biggest risk to something like this? The issuer, same as with any note. The drivers hold claims, not yen. The whole thing rests on that party actually keeping the reserve and paying on demand. Nothing on the token enforces it; you're back to trusting a c…