Questions
What your board will ask.
Ten questions, ten answers, each under sixty words.
Questions and answers
You are putting deposits on a blockchain.
No. The deposit stays on your ledger. The token is your entry made portable, proven equal to your balance every cycle, with a breaker that halts creation the moment that equality fails. Reconciliation and unauthorized-mint exposure are reduced in those specific dimensions.
Where is the return?
Deposits stay lendable instead of leaving for a stablecoin. New fee lines on programmable, cross-border and securities flows. The cost is a license and a connector; the alternative is losing the deposit.
This is a two-year integration.
Ninety days from kickoff. The gateway reads the ISO 20022 messages your core already emits, through a certified connector. Two people for thirteen weeks on your side.
Which regime does this fall under?
Yours. The architecture is designed to preserve the existing deposit relationship rather than create a separate reserve-backed instrument; deposit status, insurance treatment and your classification are confirmed by counsel in each jurisdiction before go-live.
What if Fiat-on-Chain disappears?
The specification is open, the source is in escrow, your keys are in your own hardware, and the Member Council can appoint a successor operator under the step-in clause.
Why not just issue a stablecoin?
Because it moves the deposit off your balance sheet, adds a second rulebook, a reserve and a monthly audit, and hands the yield to a custodian. This keeps the deposit and adds the capability.
Why a shared ledger at all?
Multi-party state integrity among institutions that do not trust one another's databases; independent verification by the supervisor; shared deterministic ordering for all-or-nothing settlement; governance among mutually distrustful parties. Not 'programmability' — a database can be programmed.
Does the proof mean every entry is correct?
No. It proves the two ledgers are equal — divergence cannot persist beyond a cycle. The correctness of entries remains the institution's supervised ledger and its audit.
Is the central bank on the settlement leg?
In Georgia the supervisor node and the resolution playbook are within the sandbox scope; the central bank's settlement-leg role is proposed and subject to sandbox design and approval. We say so on every page.
Who governs the rules?
A Member Council of issuers in each jurisdiction, with the central bank as observer, holds binding rights over the rulebook and is consulted on fees under a published formula with a cap. Fiat-on-Chain owns and operates the network.
A question we have not answered?
Bring it to the briefing; the answer goes on this page.