[imtringued]

I don't really get it. How does this prevent people from holding onto foreign currency or gold?

[sudosysgen]

Who is going to sell you forex or gold for non-transferable tokens?

[edgyquant]

Non-transferable tokens aren’t going to be a successful replacement for money

[sudosysgen]

In a capitalist economy certainly not.

[edgyquant]

In any economy that isn’t post-scarcity dude, money wasn’t invented by capitalists nor was the idea of an exchange.

[sudosysgen]

No, modes of rationing and discovering preferential subjective values are necessary. That does not imply what is meant with money, which is infinitely durable, portable, fungible and uniform.

Already rationing systems which do not fit the definition of money are being employed. For example in the post-pandemic period the PBoC has issued consumption tokens with an expiration date.

You are simply confusing the idea of a scarce token with money. Money is in the former category but the former category is not money. The necessary function is to translate consumer preferences into numeric terms. For this fungibility and durability is not necessary.