Apple Pay and Tokenization

I don't know what tokenization is but it is mentioned frequently in connection to Apple Pay as well as general NFC payment systems.

This link  at NFC World covers The US Federal Reserve’s Mobile Payments Industry Workgroup (MPIW) position on investigating and giving cautious backing to tokenization systems.

Tokenization is a data security method that is described by Wikipedia at this link.

This link gives a brief description of tokenization and gives 6 reasons to be wary.

This link is a view explained in rather simple terms that even I understand of tokenization from the perspective of a Bitcoin site.

This recent link is additional comment on Apple Pay tokenization from the Bitcoin perspective.

I am certain that there will be an enormous amount of speculation about Apple Pay soon and what it might potentially lead to when the secure system infrastructure door is open to payment systems.  My own interest is in what it may support as alternatives to clearing house and banking systems.  Perhaps that is why the Bitcoin community view is so interesting.  They are looking at that too as well as the general digital money system community.

The Clearing House is very much into tokenization.   Perhaps the future of clearing house functions in the system becomes more routing of transactions than determining what bank owns what to any other bank at the end of the day in a debt free monetary system for the medium of exchange where digitized, serialized money and account are two separate objects where the owning account is dynamic but the money "owned" by all accounts is static with only the account relationship of money changing.

As usual a single Chrome and Macintosh user hits first on this post.  My one and only fan?

Maybe, just maybe, my fascination with tokenization security aimed at account numbers is the conceptual application of tokenization to the uniquely serialized, digitized debt free monetary system that I have frequently presented in this blog.  Would that make all transactions untraceable at the unique transaction level but make all macro level transactions public.  Is that the BitCoin model?

Tokenized accounts and tokenized money?

Apple Pay tokenizes the account.  What if it also tokenized the money in a conceptual design where both account and money are separate but related Super Objects, each with uniquely identified child objects at the granular level?

Are shadows on the wall taking shape here that connect to some reality being projected?

Tokenization and Anonymization! 

 Applied to both the independent unique instance of account object in the SuperClass: Money and the related unique instance of a serialized digitized money object in the SuperClass: Money in a transaction that changes current owner account to new owner account relationship to units of money in a central money cloud?  Only accounts are distributed among account administrators (banks). Money related to the account is centralized?  In that conceptual scheme then who (what account administrator) owes how much money to whom (another account administrator)  at the end of the day is no longer a clearing house function to process?????

I feel that the conclusion of the prior paragraph to be intuitively true at the gut level?

It would seem to streamline the system!  It would also vastly increase the amount of economic macro level data about what money does.