Block Chain Audit Trail

The proposed overlay of an existing monetary system establishes money as a uniquely identified granular level object at the unit dollar level as well as a macro level money object Class associated with an owner account.  This gives substance, life and being to money that only previously existed in an aggregate variable number of dollars as a data element in an account managed under a double entry book keeping system.

Uniquely identified granular level monetary units make possible a block chain managemt history.  A block chain is among other things, an audit trail.  In Bitcoin the granular level of the block chain is a uniquely identified transaction that has an associated variable "total dollar" amount.  This is an interesting way of looking at how that works:  It is the creation of virtual money units each with a variable denomination amount per money unit depending on the money value associated with a sufficient number transactions in someone's purse given in payment to another that either equal or exceed the amount of payment due.  In the case of exceeding, change is returned as a transaction thereby creating a new variable denomination amount.

Block chain in the Monetary Authority system is unique unit dollar based. Transferring a payment from one account to another by the Accounting Authority is done in the total aggregate amount of the transaction.

For example:  A payment of 10 dollars is made from one financial entity to another and the transfer between accounts is made by the accounting authority through a clearing house function as necessary.  Transaction reporting by the accounting Authority to the Monetary Authority results in registering the change of 10 uniquely identified unit dollars from the current owner to a new owner.  Each of those dollars may have related to current ownership is also related to every previous owner in the block chain of Thur unit dollar ownership history and date of change.  That is an audit trail.  Dollars chosen to which change of ownership is applied are selected at random or by some applicable algorithm.

That is a very telling audit trail revealing from whom dollars were received and to whom they were paid.