A proposal for a State Depository Token (SDT) backed by a State-regulated depository similar to Texas House Bill 1056 and House Bill 1049, including an overview of historical forces and a system design.
An SDT platform can adapt to regional conditions, support cash-equivalent or US dollar tokens and use multiple value depositories to guarantee token value. Unlike Bitcoin, tokens have no intrinsic value and can be replaced if they are lost or stolen. Their value resides in the asset they represent, which can be gold, dollars, cattle, oil, real estate or even Bitcoin itself.
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