15 September 2008
Ambridge looks into setting up its own currency after running into problems with someone forging IOUs in their bartering scheme
Pat Archer: I’ve been looking up other trading schemes on the Net and some of them print their own unofficial currency
Linda: Really?
P: Yes, notes or vouchers that can only be used as part of a swap system, each worth so many units that can be traded.
L: I see…
L: So they’ll be much harder to forge than IOUs … And you were wondering if Robert and I could design print these forgery proof notes on the computer?
P: Well you did offer to help!
L: Yes of course; I’d be only too delighted!
P: And with Robert’s IT skills...
L: Oh, I’m sure Robert will be only to happy to help. It’s a brilliant idea Pat, it’s so simple… And it will put an end to the forger’s little game.
P: Wait, wait; it’s not quite as simple as that…
L: Oh why not; I can’t see the problem. I mean there’s no such thing as a completely forgery-proof currency of course but we can certainly stop them.
P: It’s not just about stopping whoever it is; it’s far more complicated.
L: Well, tell me.
P: We can’t just print masses of these notes and dish them out to anyone. You’ve never heard of hyperinflation?
L: Well I do have some grasp of basic economics.
P: We’ll have people carting them about in wheelbarrows.
L: No, no, no, no, we don’t want that!
P: So we’ll have to decide who gets them, how many, how much they’ll be worth, how we pay for them to be printed.
L: Yes, you’re right, we shall.
P: It’s not going to be easy. Then we’re going to have to persuade everyone it’s going to work.
L: Pat, leave it to me. I’ll do some serious thinking.
P: Will you?
L: Oh yes; I’m sure that between us we can make this happen.
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