Tuesday, 8 May 2018

Idea for small metal nuts, bolts screws, nails & other building materials fixings to be as currency in the developing world

Idea for small metal nuts, bolts, screws, nails & other building material fixings to be as financial currency in the developing world 

As a supplier of screws & fixings, Cabinz has been exploring this idea. 

Their currency value aside . Low value coins have little intrinsic value, apart from their scrap metal value & a few uses , such as a screw driver.

In an inflationary environment, a metal coin can quickly become nearly worthless.

However,  small metal nuts, bolts, screws, nails & other building materials fixings retain their value as a fixing for building things, even if the currency declines in value.

If a Government introduced such a "functional coin" . The may need to be stamped or engraved to stop criminals introducing their own screws to dilute the coin currency.

There are disadvantages , like difficult vending machine use, screws would have to be in containers to stop pocket wear etc.

Advantages are that the coins could be used as fixings in the house / garden , while actually being the households financial savings.

Alternatively the fixings could be used as  local trading currencies , not national ones . eg  Lets https://en.wikipedia.org/wiki/Local_exchange_trading_system

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