Aug 9, 17 / Vir 25, 01 08:56 UTC
SOLAR and Energy ¶
In the Constitution, Article 13 does not specify how the currency of Solar is secured. In paragraph 4, the complete nonsense about setting the exchange rate is written.
"SOLAR shall be issued by the National Bank of Asgardia in the amount tied to the parameters of the Moon, the Sun, the other celestial bodies set by a special law of Asgardia. The National Bank of Asgardia shall be a lender of last resort." (Constitution 09.08.2017)
This needs to be corrected.
The history of the Earth's economy showed that the peg to gold (or any other precious substance) or gross domestic product failed and led to crises.
I propose to link the exchange rate to the total energy production in the localities of Asgardia. Energy is used in all spheres of society. The production of any product requires a certain amount of energy. And the more energy-efficient the process of production, the cheaper the products. Any substance has a certain energy of formation (that energy which it is necessary to spend to get a substance from simple substances). Here is the definition: "By the standard heat of formation is understood the thermal effect of the reaction of formation of one mole of substance from simple substances, its constituents, being in stable standard states"
In space, a lot depends on the availability and amount of energy. No energy - everything will die. Therefore, providing the currency with energy in my opinion will be the most correct decision
What are your opinions?