Hmm. I suppose this raises the question of where (and why) it's useful to draw a distinction between "tokens" and "accounts." If all assets on the blockchain are associated with an owner address, that sounds an awful lot like everybody has blockchain accounts.

Is it the token-versus-account distinction that matters here? Or is the biggest change that Citi wouldn't have to manage the accounts using its own database? Or are they using blockchain as an excuse to automate things that, from a technological standpoint, could easily have been automated without blockchain?

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