The global financial system is interconnected. Fast transactions can happen because counter party risk is removed by a government backstop. In effect you can'

The global financial system is interconnected. Fast transactions can happen because counter party risk is removed by a government backstop. In effect you can't have Visa without a "risk free" store of value. Vaults such as Fort Knox are a part of that system. In the case of bitcoin they aren't inherently necessary to the function of the system, although with the risk of hacks you can make the case for them.