Banks will have multiple private keys
Different denominations would be signed with different private keys
When the bank issues the cash it
Subtracts that amount from your account
Records the identifying number of the electronic note and who it was issued to
When making a purchase, the shop contacts the bank to verify that the money is a valid
The bank checks its records to see if it is a valid note and to ensure that the note has not already been spent
If the verification occurs, the bank credits the shopÅfs account, debits your account, and you get the stuff
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