Full Name of Nation: World Union of the Proletariat's Unified Communist Council Republics
Official Name of Currency: Energy Coupon
Currency Symbol/Abbreviation:⚡
Year of Adoption: 81 AAY (2067)
Did It Replace An Older Currency? If So, What Currency Did It Replace?: The Energy Coupon was devised as the successor of abstract bartering of physical commodities— which had been backed by the effort (Measured in time) required by the laborers to procure the good— after the abolition of fiat currency. The Energy Coupon is a personally issued electronic EFTPOS card, the digitally encrypted funds are topped up weekly in accordance to the universal basic income in addition to the prole's job of choice. The value of the Energy Coupon is backed by the national energy budget (In Petawatt Hours) or in otherwords fixed to an energy standard — increased energy outputs from the baseline is measured as economic growth while recessions are a reduction of energy outputs from the base line.
Subunits of Currency: Kilojoules, Megajoules, Gigajoules, Terajoules, Petajoules
Current Denominations of Currency (Coins): Non-Physical
Current Denominations of Currency (Banknotes): Non-Physical
Former Denominations of Currency (Coins): Physical Assets and Capital
Former Denominations of Currency (Banknotes): Physical Assets and Capital
Images of Currency: [ (⚡) ]
Current Exchange Rate with USD/NSD: 1:1
Other Information: The distribution means that each human being will be given an “ownership”, or rather “usership” of an exclusive amount of the Planet’s renewal capacity. The distribution can happen in several ways. All human beings can be given a specific amount just because they need to live and survive for example. People can be compensated for how many hours they work as well, or for their participation in innovative projects and the popularity of said innovations. All three ways to give people access to the resources can be employed simultaneously as well, and the system does not need to be homogeneous throughout the world. Energy units are distributed for a specific period, dependent on the Energy Survey. When the Energy Survey has updated, the amount of Energy Units are reset and distributed out again to prevent saving. On the other hand, there is no need for saving, because an income and social security is already guaranteed independently to each individual until death through UBI. It is all based on the idea of how power plants work - they have to scale their production up or down based on need and can't (within a variance) produce excess, as it all has to go somewhere. Thus the capacity is divided up, and each person can use their share, and actual production should scale to match actual usage, and thus there's nothing to carry over as the energy wasn't stored for use tomorrow, it just wasn't generated.
People choose themselves what cooperative or sequence they want to order goods and services from. The cost of the product or service will be equivalent to the energy cost in terms of the energy that it will cost to extract the resources, produce the item, transport it to the consumer and then restore the extraction site and deal with other environmental costs.
This means that the more environmentally hazardous a particular operation is, the more it will cost in terms of Energy Units. This will incentive actors to produce goods and services which are more efficient and durable in terms of environmental effects.
