web3/concepts/bearer-instrument.md

Bearer Instrument

A bearer instrument is a financial product in which ownership is not account-based but held by either physical or digital possession.

Physical currency is a bearer instrument.

Unhosted crypto wallets are bearer instruments for whoever holds their associated private key.

References

1. Roche, Cullen O. 2011. ‘Understanding the Modern Monetary System’. http://ssrn.com/paper=1905625.