Haha exactly. After exchanging three times, what percentage of gold would you expect to still be on the paper? Every user can esily scratch it from the paper. Even by accident.
Discussion
If I understand it correctly, no!
The gold is laminated between two sheets of plastic, with numerous tamper evidence and anti forging features.
Ok. Maby when it is well done this is a way to a globally accepted cashsystem. But production would need to be centralized same as cash of today, to hold the credibility.
Once some entity found a way to creat a good false note, this entity would need to replace all existing notes.
Could be very expensive money.
I'd wager there is room for tens of different producers of such cash. Competition will drive additional security features and push cost down.
Competision can it also make easyer for similar scwm cash getting into the market exactly like all the useless shitcoins flooting crypto markets. Which would hinder wider adoption maby.