Redeem TDN
This transaction is similar with Member Bank depositing paper money to The Central Bank. Of course the difference is that there is no need for expensive and time consuming paper money transportation, the transaction is [erformed instantly. The Central Bank cancels the TDN deposited and credits the Bank reserve account with the TDN value.
Each Retail Bank has a digital certificate issued by the Central bank. When redeeming a TDN the Retail Bank system has to satisfy a SSL/TSL challenge initiated by the TDNSYS with the bank’s certificate.
Only Retail Banks may be issued and may redeem TDNs Most of the time a Bank will request a large value TDN and split smaller value TDNs as needed and when redeeming it will consolidate multiple TDNs into a larger TDN.
The transfer of paper money from the Central Bank location to the Bank's safe is infinitely
nore complicated than the instan transfer of TDNs.
Comparing to storing paper money TDNs storage is less expensive and as safe if not safer than bank safes.
And TDNs of course fo not require an Over Night Drop Box.
