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The currency has only one unit of itself in existence, when someone want's it split they go to the mint, have the original destroyed and have split denominations printed.
The currency could have some kind of identification system to make each piece unique and prevent duplicates or counterfeits and
make sure no more that 1 unit is in existence. My idea is to use a compass system, compass directions would denote what specific fraction of the unit the currency was. N would be half, NE would be a quarter and NNE would be an eighth and so on.
The value of the currency would go up as it's traded, making it undergo hyperdeflation.
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Annotation:
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Your compass idea is not much different from serialized currency.Whether it's a number or the unique identifier of NNNNNNNNNNNNNNEEEEEEEE. The only difference is that a serial number allows much shorter references. |
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Isn't this just a hardware implementation of bitcoin? We would literally be using bits of a coin. Good joke. [+] |
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Bagsy me to get the first dollar to start with. |
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