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?

Candidate Strategist

Hi,

I'm not an expert in economics, but I've always believed, correct me if I'm wrong, that in order to base a currency in some material,  a substantial amount of that material should be treasured to give value to that currency. And since, on the one hand, today, storing large amounts of energy is not viable. And, on the other hand, one of the objectives of humanity is to get cheap and affordable energy sources, which would devalue our currency. It does not seem feasible, a priori, to base our currency on energy.

I believe that a better way to give our currency a value is to make it a criptocurrency. In addition, this solution would fit with our current status of virtual nation.

EDIT: I just find out that this is already established in the FAQ page https://asgardia.space/en/page/faq#faq_id_6

-----Spanish----

Hola,

No soy un experto en economía, pero siempre he creído, corrígeme si me equivoco, que para basar una moneda en un material se tenía que guardar una cantidad considerable de dicho material para poder darle valor a la moneda. Y dado que, por una parte, hoy en día guardar grandes cantidades de energía no es viable. Y, por otra parte, una de los objetivos de la humanidad es conseguir fuentes de energía barata y accesible, lo cual devaluaría nuestra moneda. No me parece factible, a priori, el basar nuestra moneda en energía.

Creo que una mejor solución para darle valor a nuestra moneda sería hacerla criptomoneda. Además, esta solución encajaría con  nuestro estatus actual de nación virtual.

EDIT: Acabo de encontrar que esto ya se ha establecido en la página de preguntas frecuentes: https://asgardia.space/en/page/faq#faq_id_6