Well-Known Member
- Intent:
- To create a new galactic currency for use in future narratives and diversify the economic roleplay on chaos
- Image Source:
- Canon Link:
- Permissions:
- Primary Source:
- Manufacturer:
- The Trade Federation
- First Bank of Utapau | Financial Contribution
- AvCorp™ | Blockchain Contribution
- Technoid Manufactorum | AI Contribution
- The Trade Federation
- Affiliation:
- Market Status:
- Open-Market Status
- Model:
- Outer Rim Duggot | ORD For Short
- Modularity:
- No, any alterations to the Duggot value will see the amount frozen until physical verification can be made on the integrity of the device.
- Production:
- Mass-Produced Production
- Material:
- Commodity Currency
- Value determined by Intrinsic Value | IE: The Measure of what an asset is worth, such as the price of Aurodium and Nova Crystals are on the Current Market.
- Accepted by all Trade Federation Partners and Subsidiary Organizations
- Blockchain (Electronic Form)
- Automatic electronic verifications without the need of a third-party.
- Append-only data structure, making transaction history and info extremely secure.
- Chronological data stamping across the blockchain.
- Omni-node ledger data distribution.
- Various consensus protocols, nearly removing the risk of duplicate entry or fraud.
- Small Form Factor to facilitate large-scale system expansion.
- Duggot Physical Currency
- Large range of issued denominations.
- Color-coded based on tier
- Bronze: 500 ORD Denomination
- Silver : 1,000 ORD Denomination
- Gold: 10,000 ORD Denomination
- Copper: 100,000 ORD Denomination
- Steel: 1,000,000 ORD Denomination
- Durasteel: 10,000,000+ ORD Denomination
- Aurodium: 100,000,000+ ORD Denomination
- Color-coded based on tier
- Large range of issued denominations.
- Value determined by Intrinsic Value | IE: The Measure of what an asset is worth, such as the price of Aurodium and Nova Crystals are on the Current Market.
- Blockchain transaction ledger. (Benefits listed above)
- Connection and integration into the wider blockchain system.
- Local cross-referencing blockchain ledger for additional fraud protection.
- Anti-counterfeit Measures
- Unique Tactile Pattern Serial Identification.
- Regulated Blockchain IDs with active databasing.
- Rotation and retirement of Blockchain IDs after a set term.
- Unique Barcodes directly linked to database ID.
- Supplementary number-based serial directly linked to pattern serial.
- Highly specific coating tint-patterns.
- Killswitch Protection
- Renders the Duggot cards fried and unusable when activated.
- Automated killswitch-firing upon detection of fraud.
- Warning protocols to avoid wrongful termination.
- Powerslave AI powered protocols.
- May be triggered upon owner request if lost or stolen.
- Issuers may manually trigger for fraud/misallocation correction.
- Dispersed Centralization
- Distributing banks spread across varied regions and nations.
- Regional value-flexing to compensate for varying economic conditions.
STRENGTHS
- Stability |
- The Outer Rim Duggot is a Commodity-backed currency instead of a Fiat Currency, which means there is a sense of price stability and a reduction of inflation, as the value of the currency is linked to the value of a physical commodity such as Aurodium or Durasteel.
- Liquidity |
- The Outer Rim Duggot is highly liquid as it can be exchanged for the physical commodity at any time. This can make it easier for individuals and businesses to quickly convert their currency into a physical asset, which is particularly useful in times of economic uncertainty or political instability.
- AvTech™ Blockchain |
- The AvTech™ blockchain secures information about transactions and transfers in an append-only chronological structure to assist in the prevention of alteration and fraud. Consensus protocols powered by 'Powerslave' AI and different 'node' systems within central banks to distribute and update data in a global-ledger.
- Vulnerability to Supply Shocks |
- The Outer Rim Duggot is vulnerable to supply shocks of the backed commodity, which can impact the value of the currency. For example, if a faction is backed by the price of Durasteel on the Market and there is a sharp and sudden decrease in the amount of durasteel in the galactic supply, the value of the currency can be negatively impacted.
- Limited Financial Flexibility |
- The Outer Rim Duggot can limit a governments' ability to manage its currency in response to economic changes as the price is directly linked to the value of the physical commodity which can't be printed indefinitely like fiat currency can in times of crisis or economic hardships.
Entering into the Current Chaos Era of 900 ABY, it was only a matter of time before war and conflict spread across the galaxy once more which put considerable pressure on planetary economies and the galactic supply of currency still in circulation such as the Galactic Standard Credit backed by the InterGalactic Banking Clan and the Trade Federation Standardized Credit backed by the Trade Federation of Planets. In order to solve this situation, the introduction of another Galactic Currency was considered paramount to stabilize prices and assure the public confidence in the currency that they are being paid with before a bank rush was to occur.
The Outer Rim Duggot was introduced by the Trade Federation of Planets for outlying systems such as the Outer Rim and Colonies, which did not have the luxury of the Core Worlds when it came to financial assistances and megacorporation present. It is a commodity-based currency with the value being represented by a physical commodity such as Durasteel or Aurodium which had a physical price on the open market, which makes it less susceptible to inflation and allows financial stability to planetary governments far away from the galactic power centers such as Coruscant or Jutrand.
It was designed to insure that if the Major Galactic Governments such as the Galactic Alliance were to be absorbed or destroyed, the galactic economy could carry on functioning smoothly without economic collapse.
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