I think the author’s argument goes something like this: since we’re all using fiat currency anyway, they might as well be bits and bytes, as pieces of paper, or severely adulterated metals. Since we all have computers and cell phones (except for Luddites like me), who needs middlemen?
The only problem is, if there are no physical placeholders, how do you know there’s no chicanery going on? OTOH, we have placeholders now, and they manipulate the money supply like crazy anyway, so I guess I answered my own question.