"The physical GPS location between sender and receiver will be set up to provide unbreakable security when it was ledger-ed with regard to who sent it, and what account received it"

... QFS relies on a functioning GPS, so if something goes terribly wrong in low earth orbit (the arena of GPS) the ability to do financial transactions halts.

Another point, since possession means having something with you, iow in the same location (like in your pocket) the GPS essential is a great idea. However, the real assets in question are in the possession of their reserve, while the de jure owners have possession only via the digital proxy for them, being linked to the real items via the chain of transactions recorded since the "coins" were created. IOW, the various digital "owners" down the chain never get de facto access to the real stuff, so these assets are forever in virtual space. You have to trust the reserve de facto owners that the real stuff is still there.