The Global coin is the physical manifestation of a "Digital Coin" which exists as tangible private property and moves like physical coins via a change in possession, without the need for any ledger or accounting system between any two peoples on the planet.
Characteristics:
exist as tangible private property
exists as a commodity (Sound Money) which supports the Regression Theorem of payments, and hence has acceptance within a deferred payment between to unknowable parties
transferred between tow parties without the need for any clearing or settlement systems or payment networks.
not subject to censorship or external third party interference or rent extraction, identical to physical metallic coins today.
payment finality is guaranteed via common law "chose in possession"
each and every coin has a mandatory face value and currency unit
exists solely as universal legal tender, and hence guarantees universal payment finality identical to physical coins today
has zero effect on any sovereign monetary policy, as exist as a coin and circulates identical to existing physical coin on a 1:1 exchange basis (like for like)
always moves offline, like all coins today. Hence will always be available for P2P payments without exception.
can be transferred at the speed of light or via sneaker net, snail mail, email or any IEFT protocol
cannot be double spent, even if it is possible to duplicate without detection or demonstrate an ability to determine a copy from the original
is based upon open international agreed standards, ensuring global interoperability without the need to seek permission from anyone
coins can be minted via the existing process used for physical coins; i.e. via a treasury authorised Mint for sovereign coins
coins can be minted and destroyed by individuals within a guaranteed stable coin supply
coins can have any face value within the range of DECIMAL(18,2).
The Secret Sauce which underpins all Coins is the verifiable change in possession of a tangible object as private property via chose in possession common law.,
Each Coin via the Proof-of-Time looks back to the origin of its Minting operation, a Coin must always be minted from a previously existing Coin.
The exception is the World Currency Unit supply, which is a special Coin with embedded provenance back to its audit record as an physical 400 oz bullion bar.
The Coin has guaranteed and absolute payment privacy and is immune from all forms of coercion and extortion via its Information Theoretic Security.
Axion: A Coin exists in a closed system with an absolute and guaranteed supply and hence value as a tangible asset in a digital world.
The circulation of a Coin begins at the currency area Mint, an independent economic entity “whose functions are limited to minting local currency units (LCU) from the World Currency Unit-Capital (gold bullion)". The WCU-C supply is created via a barter exchange of Gold Bullion for WCU-C on an ounce by ounce basis. The Minted LCU supply is created, based upon the spot price of Gold to LCU within a free bullion market like the LBMA. A participating entity buys Coins (LCU value) from the mint, hence the currency area WCU-C float is created and placed into circulation within the currency area . The minted LCU is always redeemable upon demand in WCU-C or money capital (gold bullion).
Currency area consumers can acquire Coin based LCU value via a direct payment, or via exchange of fiat-monetary value in LCU via a payment provider or other economic entity. The fiat-money cannot enter the Coin sound money system, hence becomes and external float of debased value.
The Coin exist as universal legal tender, without the need for any third party including any financial institution or associated monetary policy. The entire LCU supply circulates entirely inside the Coin system itself, the Coin circulates with zero fees and zero spread across both space and time
The Coin extends the existing payment system into the “capillary vessels” of all economic transactions.