"Energy currency was one of my arrogant ideas. It would be difficult to implement this century because the technology in every area is still immature, but I believe it will become a mainstream form of currency in the future, because it can greatly reduce the complexity of the entire economic system." Song He said, "It would also have some unprecedented significance, such as greatly easing hyperinflation and, in turn, alleviating the wealth gap."
"Before discussing energy currency, we first need to briefly review the monetary systems humanity currently has."
"Over the past several thousand years, there have mainly been three types of currency in the world: hard currency, paper money, and fiat currency."
"Hard currency refers to metal currency, most typically gold and silver. It is the most restrictive type of currency because it is difficult to create out of thin air. There is only as much as there is, and it cannot double overnight—unless a pure-gold asteroid falls from the sky."
"Hard currency can also change. For example, silver had weakened considerably compared with several centuries ago because its output had soared with advances in the metallurgical industry. It was no longer dependent on silver mines; vast quantities of silver emerged as by-products of many metal-smelting processes."
"Aluminum was a similar case. Historically, metallic aluminum had been extremely expensive. When Napoleon held banquets, he even showed off by using aluminum tableware. At the time, aluminum utensils were far more expensive than gold plates and silver bowls. Later, Hall's electrolytic aluminum technology emerged, aluminum production skyrocketed, and its price rapidly fell to practically nothing."
"Gold remained strong. Although various forces manipulated gold prices as the economy changed, it was still valuable in the long term. Why? First, its output was low. In addition, gold's characteristics made it the best choice