There are security related things that are "need to know" TSA knows, airline gate agents would know, general public is not need to know. I am legally not allow to expand on specifics. Just know, the initials have a reason to be there, yes you can easily reprint a boarding pass, and if the issue does come up and there are not initials, you may( depends on time) miss your flight. I really don't know how to be more clear without putting myself in jeopardy as to what I can talk about. The op asked if there was a reason for initials on paper boarding passes, yes there is. Thanks!