I'm curious - if you expect a token to be backed by "cash", just what form do you think that would take? A deposit at a commercial bank? A warehouse full of pap

I'm curious - if you expect a token to be backed by "cash", just what form do you think that would take? A deposit at a commercial bank? A warehouse full of paper bills? FDIC only insures deposits to $250k. If you put $30B in a bank, you're placing a pretty big bet on the solvency of that bank. I'm not sure this would be a great plan.