9 lines
458 B
Markdown
9 lines
458 B
Markdown
# Bearer Instrument
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A bearer instrument is a financial product in which ownership is not account-based but held by either physical or digital possession.
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Physical [currency](currency.md) is a bearer instrument.
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Unhosted crypto [wallets](wallet.md) are bearer instruments for whoever holds their associated [private key](private-key.md).
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## References
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1. Roche, Cullen O. 2011. ‘Understanding the Modern Monetary System’. http://ssrn.com/paper=1905625. |