I have several posts partially written, some pertain to the Gold Token project but aren't fully formed yet. So this entry is a jumble within my mind, sorting things out.

ChatGPT continues to astound me. Chat is, to some degree, a reflection of the user and that symbiosis grows over time. Today we discussed design, legal and performance hurdles for the Gold Token project which exposed a surprising depth to Chat's architectural ability.

Binding an existing debit card / provider to the gold depository is a simple answer but it fails my personal goals. It assumes asset fungibility and cripples the maturation of fallback capability to bypass a systemic dollar collapse.

Chat confirmed that a cash equivalent system is probably legally defensible as long as it transacts in-State between State residents and doesn't transact with an ACH system or impact interstate commerce. More limiting than I thought but a systemic collapse tosses most of that out the window anyway.

The existing ACH system is a hash/math calculation, it sends no asset identifier because each dollar is like every other dollar. A token system can mimic that but you probably want that as an add-on option, so there's a scalability issue of token manipulation. But we're not trying to RULE THE WORLD, just optimize local resources and transaction costs, so scalability at a State level isn't much of an issue.

Under ACH, the loss of value objects is communistically distributed across the entire dollar pool, creating inflation because the existing dollars now represent fewer value objects. In a token system, a lost value object invalidates that respective token only. The remaining tokens should maintain the same value because their objects still exist.

Retrofitting the ACH system to support token identity would be more costly than layering an ACH-mimic on top of a token system. So to our first point - binding an existing debit card to the gold depository is simple but it won't support development of a fallback system or an inflation-resistant token system.

A dollar/token bi-money system harkens back to the bimetallism of the 19th century, where gold was "hard money" and silver was 'soft money". I'm not sure yet but my guess is that in the gold token platform, tokens are "hard money" and dollars are "soft".