A New Money Exchange System: The World Calorie Currency (WCC)

International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 2, Issue 2, pp: (403-408), Month: October 2014-March 2015

6 Pages Posted: 13 Feb 2015

Date Written: February 10, 2015

Abstract

The current ruble crisis causes much trouble for many of those eastern European countries like Russia and its neighbour countries: Strong ruble depreciation and high inflation for consumer goods are its most negative consequences. Because the ruble is only a national currency, but not a world currency, some people might ask if we introduce a new global currency, the World Calories Currency (WCC) or "Cal-Money", that currency would be less vulnerable and less crisis-prone. In this short paper, I firstly present the 4 main criteria of a successful and widely accepted currency:

1. Fair valuability & high inflation security, 2. high trust and acceptance among the users, 3. high distribution over the world and 4. high supportiveness of the real economy. After I compared the strength & weaknesses of the World Calorie Currency and present some concrete measures to make the Cal-Money implementation more smoothly, I then came to conclusion that all 4 main criteria of a successful, world wide applicable currency would be fulfilled by the WCC.

Keywords: New Money Exchange System, World Calorie Currency (WCC), Real economy supportive, Ruble, currency crisis, world currency, CalorieCoin, Central bank supported, Hard currencies, BRICS

JEL Classification: E40, E42

Suggested Citation

Zhou, Xinyi, A New Money Exchange System: The World Calorie Currency (WCC) (February 10, 2015). International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 2, Issue 2, pp: (403-408), Month: October 2014-March 2015. Available at SSRN: https://ssrn.com/abstract=2563330

Xinyi Zhou (Contact Author)

Royal Economic Society ( email )

London
United Kingdom

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