Some hits on an old entry in this blog about tracing the billions of $100 bills sent to Iraq brings me back to what started my interest in a monetary system structured in the following manner:
All currency is digitized, serialized and denominated in units of $1.00 and maintained on a central record on this unit basis but related to the total aggregated amount of dollars "owned" by an entity expressed in an independent single registered entity account. The total total dollar value of all aggregated entity accounts equal the the total value of of all digitized dollar currency.
This structural relationship between currency and account separates the tight binding of currency and account in a single financial record into two related and balancing records.
Monetary account transactions in this structure occur when the owning entity of an account transfers ownership of some number of total dollars in the account to a new owning entity account. This transfer is recorded as a total dollar deduction from the expending entity account and addition to the gaining entity account.
In this conceptual structure account balances (always the total amount on current on hand balance) changes (equally but inversely) in the expending/gaining entity account. Currency is related to this accounting entry of total transaction funds transfer between entity accounts (because the currency record has been made an independent record but directly linked to the accounting transaction)
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