One World, One Currency

For the first time in human history a non-sovereign, non-fiat universal currency exists. A universal and tangible, currency means that every country in the world chooses, without fear or favour, to use the same currency in all cross currency area payments. The instability in exchange rates between currencies creates difficulties for international trade and investment, for business planning, and for national economies, with impacts on prices and inflation. Among the benefits of a universal currency is the elimination of currency risk and conversion costs within international trade and finance, via the law of one price to each nations sovereign currency.

The universal currency does not represent a currency union, it requires no treaties, no supra-nation government, no international or national laws, nor any central banks, to support its existence. The universal currency exists solely via an individuals choice to use it within a deferred payment . The universal currency is guaranteed to be the most liquid of all currencies in circulation on the planet. 

A universal currency does not mean a single currency. Every country can have their own currency which can be redeemed upon demand, via the law of one price, into the agreed universal currency.

World Currency Unit Defined

This section contains the public definition and necessary anchors for the existence of the World Currency Unit supply:

Date Minted: 17th July 2016 @15:21 UTC.
Symbol: $, WCU$, WCU
Base Unit: Bit
Base Unit Symbol: b, bit (IEC 80000-13)
ISO Currency Code: WCU
Total Fixed Supply: 19.440 Trillion bits
Unit Exchange Value: 1 fine oz[1] of Gold = 100 bits = 1 Dollar.

Anchors

MerkleRootHash = 0x9A151328E2777A0231FF796482640262646F6360AEDAC8D451776F8DEFE18E1E
Internal Settlement Association-JSON Public Key (JWK): {"kty":"EC","crv":"P256","x":"QRz6cF0RID6oqhRdjVd_lgYQOgVpuGUOd6N0P8vVezM","y":"H_SUQi7Zqvnsf8wLCt0AnON8PYJrsrSlACvK6ZJO1dEA"}

Defined Asset Identifiers

Capital-Asset Identifier: 0x5eef638235e96f4385a73abdf183ac68641821d9
Legal Tender-Asset Identifier: 0x75079608e7049fe27d54656cbb2a1b488d035c10

The World Currency Symbol $ represents a universal or supra-nation form of economic freedom.

The symbol $ is derived from the figure 8 as manifested by the Australian “Holy Dollar” which was an adaption of the Spanish ‘piece of eight royals’ in ~ 1771. The vertical line represents freedom via the joining of the three elements of the figure 8, namely harmony, peace, and balance. When the figure eight is laid down it represents infinity as implemented in the circular block chain, which as a circle has no beginning and no ending, it represents perfection in a universal currency.

The $ symbol represents the World Currency Unit, which underpins the world population and all individual’s freedom, to make decisions which are beneficial to humanity.

Why the World Currency Unit?

To the possessor of fiat currency, who wishes to exchange their fiat currency for another fiat currency or exchange one asset for another asset, requires each party to the exchange to determine its transaction-specific use-value. The seller’s asset possesses for himself no immediate use-value. Otherwise, he would not bring it to the market. It has use-value for others; but for himself, its only direct use-value is that of being a depository of exchange-value, and, consequently, a means of exchange.

To the owner of an asset, every other asset is, regarding his own, a particular equivalent, and consequently, his asset is the universal equivalent for all the others. But since this applies to every owner, there is no asset acting as the universal equivalent, and the relative value of assets possesses no general form under which they can be equated as values and have the magnitude of their values compared.

A particular currency cannot become the universal equivalent of exchange value except by a social act. The social action therefore of all other currencies, sets apart the World Currency Unit in which they all represent their values.

Human nature prevents any individual sovereign fiat currency from assuming the social function of the World Currency Unit thought-out human history or anytime into the future. Nation-states will never give up sovereign rights to another sovereign state, such an act goes against the self or collective interest of all sovereign states. Thereby the World Currency Unit alone can assume the form of the socially recognised universal equivalent currency unit. To be the universal currency unit, by this social process, the specific function of the World Currency Unit is thus excluded by the rest. Thus, it becomes a universal unit of account and medium of exchange, not by privilege or decree as is the case for all fiat money, but via the act of global exchange.

In so far as exchange is a process, by which assets are transferred from individual possession in which they are non-use-values, to individual possession in which they become use-values, it is a social circulation of value. Once an asset has found a resting-place, where it can serve as a use-value, it falls out of the domain of exchange into that of consumption.

The World Currency Unit is hence the universal manifestation of the value of all assets within an exchange, or as the material unit in which the magnitudes of their values are socially expressed.

The World Currency Unit is born from universal exchange, not politics or monetary policy. The World Currency Unit supply is concurrently owned by no one and everyone as it must be to circulate as a freedom based universal currency.