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




No comments:

Post a Comment

Plan to make a low cost hardware kit to allow low income groups to build locally sourced (preferably reused) panels to make foldable shelters like Hexayurts, or for childrens play dens, animals pens or room dividers to reduce heating costs and noise

 Plan to make a low cost hardware kit to allow low income groups to build locally sourced (preferably reused) panels to make shelters like H...