About cash issue process/mechanism

(Lee Suhyeon) #1

Hello, I am a student studying Corda.
First, I’m sorry I do not speak English well. Thank you for your understanding…

I have run the trade demo and I have a question.
I saw ‘IssueCash’ class used where Bank A self-issues from source code and this class’s parameters are composed only of amount, issueRef, recipient, notary.
How will cash issued using this class be valued in cash?
Unlike Bitcoin or Etherium, Corda is not a platform associated with any ‘currency’, so how does it relate to ‘cash’ in the real world?
I do not understand the process, mechanism well…

(Joel Dudley) #2

For now, we have chosen to model cash as a claim on a specific issuer, just like any other asset.

So for example, you might own GBP10,000 of UK Bank plc cash, or GBP10,000 of USA Bank Inc cash, which means you have a claim of GBP10,000 on one of those banks.

Let me know if that makes sense!