Internet Currency IC
What do you think if there was a new currency called Internet Currency, one that could be bought from any currency exchanger or bank, its exchange rate would raise, fall and change just like any other, but this time it is according to web market demand, reflecting the web economy , size and volume as well as nature of web shopping and internet based businesses.
Online shoppers would simply stop using credit cards and all other stuff that required a lot of paper work and all these bank rules and nonsense, all they have to do is to just exchange their local currency with whatever amount of the Internet Currency and go online fill their shopping carts, check out and pay using the serial numbers on their internet currency notes. Once entered the serial number on the internet currency note, it is validated against a web service that belongs to the world bank or whatever bank that will issue these notes and it will be blocked from further usage, funds would then be transfered to the seller's bank account. Purchasers you no more need bank accounts, crediting rules or messy bills, sellers no need to worry about fraud, complicated rules and taxes to offer online purchasing mechanisms. The internet currency serial numbers never repeat, they don't as well enter the database and are available for validation against the world bank web service until the moment they are legally purchased from an authorized selling or cashing out point, upon exchange at some bank or exchangeer or withdrawal from an atm machine the notes are scanned and their numbers are submitted as sold. This protects the buyer from abuse, and the currency would never have to be resold by resellers or whatever black market, it will always be transparent, every transaction done reflects its price and contributes to the web economy. Customer awareness and guidelines that prevents illegal purchase of these notes would protect the note, the buyer and the seller from fraud, the seller wouldn't have to worry about it, no transaction would happen without a matching serial number in the system that hasn't been blocked before. And who knows, maybe salaries, markets in the street and everyone starts selling and using that currency instead of their local one, at least it is a currency that has a true price reflecting real demand, not geared by political or local government plans. Global banks to print that note might exist in several countries and later on in all countries wiping out the concept of a local currency altogether. It would be the most dynamic currency that ever existed in the history of man kind. Easiest in usage, safest, transferable as well as exchangeable, people would be able to deposit it in bank accounts, purchase all kinds of stuff with it as well as having it as a salary. The note would have strong serial numbers, strong bank end web services for validation and verification as well as water marks and other means to ensure it is a legitemate note. Web Economy would replace all old concepts and introduce a whole new world with limiteless possibilities, businesses and service providers would be encouraged to go web, go global and double the size and volume of its customers. Customs, taxes and local rules would just fade away, global economic free rules would come in. I believe this is the next step human kind would have to take sooner or later. Unlike the euro thing, this is the first currency that is unrelated to a specific kind, place or color.
