One thing I think I need to say is that I proffered this idea as a 'crypto' mostly to get it in front of a new audience--and one that would be less bound by convention than most people are. I do think I allowed in the article that I am not certain it can be counted as a cryptocurrency.

It definitely would be currency, but would it be 'crypto'? That would probably depend on whether blockchain were to be utilized in effecting it.

I do know that some cryptos are simply 'created out of thin air' and do not have any kind of limitation on how much can be created at any instant in time--and they also 'burn' tokens when an excess gets returned to the originator of the currency, much as in this paradigm the excess money that would get returned to its originator could be said to be 'burned' instead of being recirculated. Learning of that is actually what inspired me to write that article.

To your questions:

1. There would be no limit on assets for people or businesses, but I don't see why they would exist as deposits in banks. They never have.

2. I do not know what the cost would be, but it would be the same as creating a dollar in QE is, unless blockchain were utilized and that would change the cost. (Eligibility for the income would replace 'mining'--or the managers of the coinage, in the case of other cryptos--as the sole source for the issuance of new money.)