If the bank confirms that the digital cash is real, the bank credits the merchant's bank account by that amount
It can also issue the merchant a sum of digital cash in the same amount
Only the bank can confirm that this data - or, digital cash - is legitimate and actually issued by the bank
Only the bank can verify that this that this data has not been used elsewhere, or double-spent
The bank cannot know who used the digital cash, as long as customers of the bank do not use it twice
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