Proof of liabilities is what makes it *better* (i.e. publicly) to audit than a normal custodian.
Discussion
But its what you mean with
"- it can be audited as easily as any custodian"?
Trying to understand the underlying concept
Auditing with custodial systems typically meant that you get an "expert" and show them your database and they say "ok". You can do the same with ecash and much more than that.
A ok, I see. But there's an idea around audits to make them more accessible/transparent, or its like, me as a mint, I could invite a choosen auditor to decide if my mint is okay or not okay?
Yes, there is an idea on the horizon and it will require some work but it's possible:
https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939