Many interesting contrasts to the crypto alternatives.

The question “what is money for” isn’t asked as much or as loudly as after the economic meltdown of 2007 but is still valid. (I think there is a decent answer, but the way money fits into the answer could be solved in other ways too.) I’m glad to see these experiments being run, if they live long enough they’re not an experiment anymore.

The liquidity benefits of these are very local, problems that arise in the systems will be relatively local too.