Ryan Tepez (6)
Absolute Currency.
Lee Han was deep in thought for a moment at the request to create an uncounterfeitable currency.
'Is that even possible? There's magic that can perfectly duplicate things.'
Implementing magic that didn't exist in the world was not as easy as he thought.
In particular, Lee Han couldn't figure out where to start with the absolute currency that Rockefeller mentioned.
"So, how do you want me to create it?"
"I've roughly set up the framework. Each Goblin Dollar will record a public transaction ledger and connect them to each other. In other words, all Goblin Dollars have the same transaction ledger."
"Record the same transaction ledger on all Goblin Dollars?"
"Yes, if a counterfeit Goblin Dollar is inserted, the existing Goblin Dollars will distinguish it. Since all transaction ledgers are the same, wouldn't it be easy to spot the one with a different transaction ledger, even if it looks the same?"
"If it's the same transaction ledger... I guess we can make them show the same reaction to each other."
"Even if a large number of Goblin Dollars with fake ledgers appear, as long as they don't take over 51% of the market share, we can make them all identified as fake."
"51%, huh..."
Rockefeller went on to explain the perfect Goblin Dollar created with blockchain for a long time.
It was a new concept, but from Lee Han's point of view, it seemed easy to determine the authenticity of the currency with that concept.
"It's a bit of a hassle... but how did you come up with that idea?"
"I just thought about it. Is it possible for you to implement it?"
"It would have taken some time if I started from scratch, but since I roughly know the framework, implementing it won't be too difficult."
"Then it's settled."
Creating the absolute currency that Rockefeller mentioned was not a difficult task for Lee Han.
However, he had this question.
"But, is that paper money really usable like money? I've seen people use it like money, but..."
"Are you talking about the Goblin Dollar?"
"Yeah, I'm talking about the Goblin Dollar. It didn't look like money to me."
Lee Han was the protagonist of the novel, but like others, he was ignorant about finance.
Lee Han took a handful of gold coins from his money pouch and showed them to Rockefeller.
"This is real money. This is the real deal, not that paper money. It's just..."
Seeing Lee Han's expression, Rockefeller just laughed.
"Do you know what money is?"
"Money? Money is just money."
Rockefeller calmly shook his head and denied it.
"You're wrong. Money is trust. It's faith."
"Faith?"
"Yes, faith. On what basis do you think that metal currency you're holding is money?"
"This? Well, it's been like this since a long time ago..."
Rockefeller's long-winded speech continued.
"That's faith. It's an essential element for something to become money. Think about it. Why would people go crazy over something heavier and yellow-tinted than paper money? In terms of practical use, the Goblin Dollar made of paper is more convenient."
"But this is gold. It's gold!"
"That gold has been given meaning by people since ancient times, and eventually became a valuable item. If it weren't for that, gold would have been just another mineral that could be mined from the ground."
Rockefeller was right.
"The same goes for the Goblin Dollar. At first, it might not have any meaning. But if the perception of the Goblin Dollar as money continues to be embedded in people's minds, eventually people will think of the Goblin Dollar as money, not gold coins. At that point, the Goblin Dollar will take the place of the current gold coins."
Lee Han shook his head, not understanding.
"I don't think that's going to happen. In the end, people use that Goblin Dollar like money because the bank exchanges it for gold coins, right?"
"Correct. But if the situation I mentioned continues and people don't bother to go to the bank to exchange the Goblin Dollar, which is used like money, for gold coins, what will happen then? We may not think that way because our perception of gold coins as money is ingrained in us. But what about a child who has been using the Goblin Dollar as money since birth?"
Rockefeller asked.
"Would the child think of money as gold coins hidden in the bank, or as the commonly used Goblin Dollar?"
Lee Han couldn't answer that question easily.
He wanted to say gold coins, but that was just his own opinion, and it seemed obvious that a child who had used the Goblin Dollar as money since childhood wouldn't think that way.
"I think you'd agree with me. For that child, money would not be the rarely used gold coins, but rather the Goblin Dollar. It's not because the Goblin Dollar has true value, but because it has been perceived as money all along, creating a newfound faith. The faith that the Goblin Dollar is money."
His continued speech was quite meaningful.
"And making that happen is my job. Whether it's linking the Goblin Dollar to gold coins or other valuable items, or having a solid background where a nation or a trustworthy organization guarantees it, people will perceive the Goblin Dollar as genuine money, right?"
"But I can't do that."
"Who told you to do that? That's what I and the Lyon Guild have to do in the future. You have your own job to do, which is to complete the Goblin Dollar."
As Lee Han seemed to understand, Rockefeller continued with his next words.
"Please make sure to complete the Goblin Dollar I proposed. Then, with money created out of thin air, wouldn't only you and I be able to live a life of luxury for the rest of our lives?"
Read ahead by supporting me on Ko-fi. Access 5 advance chapters with the Imperial Dalants Tier ($10) or 10 advance chapters with Dwarven Sovereigns Tier ($18). For every $15 collected on Ko-fi, I will release an extra chapter. Choose your tier by clicking the 'Support me' button! Rate and review this novel on NU to help people find this novel. Happy reading!
