Privcurrency - Private domain currency - VRC11

Basic Definition of Private Currency

Privcurrency, also known as corporate currency, is a cryptocurrency that is independently issued, accepted, and used by private domain users by enterprises or individuals, and its price is relatively stable.
The essence of private currency is monetary securities.
Privcurrency is a currency issued by enterprises, as mentioned in Mr. Hayek's "Denationalization of Currency".
Privcurrency also has a deposit (38.2% margin).

Privcurrency issuance mechanism

Privcurrency is a percentage of Bitgold pledged by enterprises as collateral, with a default value of 38.2%. In special circumstances, it is modified by a referendum.
Please refer to the white paper and relevant papers by Dr. Bright for details.

More explanation

The book "Denationalization of Currency" by Nobel laureate Mr. Hayek was published in 1976, proposing the theory of free currency for corporate issuance of currency. Based on such ideas and technological progress, OPENVERSE proposed a new currency category, private domain currency.

Private domain currency, also known as corporate currency, is a cryptocurrency that is independently issued, accepted, and used by private domain users by enterprises or individuals, and its price is relatively stable. The essence of private currency is monetary securities. The stable value points circulating within many enterprises, as well as the majority of stablecoins issued by a single entity on the blockchain, belong to private domain currencies. The scope of private currency circulation is limited by the capabilities of the enterprise itself.

In the current market, USDT, USDC, and other private currency issued by enterprises.

scene

To avoid financial risks and reduce the bullying of the weak by the strong, Openverse has proposed the private domain currency standard, VRC11. Enterprises can mortgage a certain proportion of Bitgold as reserves and issue their own private currency in the ecosystem. The default reserve ratio is 38.2%, which is modified by a referendum in special circumstances.

Private currency provides enterprises with the opportunity to become relatively independent economies. Meanwhile, in order to issue corporate currency, companies need to pledge Bitgold, which will further increase its value.