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Moreover, it would arguably give holders of amazons greater faith that there would not be a modern-day bank run on amazons, because convertibility into local currencies would reduce the risk of exchange-rate hedging by customers. Amazon would acknowledge that by issuing amazons it would effectively be acting as a money-market mutual fund. Facebook simply had too much baggage, especially after the election, to be a credible backer of a digital currency. That gap could be much smaller for other potential backers of a private digital currency. This exchange points to the vital importance of reputation in inducing corporations to use a private digital currency.