Any public ledger that handles money (Bitcoin or Libra) is very labor intensive. It’s not done entirely by servers, or computers. It takes paid people to keep it running smoothly. If anything happens to disrupt the pay of these people, your “wallet” goes to oblivion.
If you buy a Paper Bullion Bank Bill, your gold is in your hand until you decide to let it go. Paper Bullion Bank Bill does not rely on the internet, or on paid people to keep it in existence. It’s bullion, in your hand.
It’s not in a “wallet” in cyber-space.
It does not have to be plugged in, minded, tended, kept error free, or administered.
The bank that sold it to you knows they sold it to you. But nobody else knows that you have it. You don’t need to be there when it’s presented for authentication and cashing in.
So, it spends like money, and is gold bullion, and apart from your initial purchase, is private. When you buy a gold coin from a dealer, there’s no report to any government filed on that transaction. Paper Bullion Bank Bill is an improved form of a “gold coin” because, unlike a coin, it can be reliably authenticated at remote locations all over the world.
It has all the advantages of a gold coin, plus all the advantages of a hundred dollar bill. That’s a lot of advantages.
Paper Bullion Bank Bill is destined to become the next global reserve currency.