Difference between revisions of "Unitary"
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exchange=NS Dollar ($) = φ39.2364 | | exchange=NS Dollar ($) = φ39.2364 | | ||
nickname=Benny, krut | | nickname=Benny, krut | | ||
| − | coins= | + | coins=Redundant, card based system.| |
| − | notes= | + | notes=Redundant, card based system. | |
centralbank=First Bank of Sayuria | | centralbank=First Bank of Sayuria | | ||
mint=First Mint of Sayuria | | mint=First Mint of Sayuria | | ||
}} | }} | ||
| − | The Unitary Quantity Mark (usually shortened to either Mark or Unitary Mark and represented by a "φ" symbol) is the name of the official currency in Sayuria, and member states of the Global Economic Group. | + | The Unitary Quantity Mark (usually shortened to either Mark or Unitary Mark and represented by a "φ" symbol) is the name of the official currency in Sayuria, and member states of the Global Economic Group. It has been in use since 20th November 2006, upon the founding of Sayuria |
| − | + | After the initial use of gold for trade; during the first few years of Sayuria's life, the Unitary Quantity Mark was converted into a totally card based system, backed by gold. The gold is stored in reserve by the First Bank of Sayuria, when a transaction is made; the ownership of the gold is re-assigned. | |
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| − | + | ==Security== | |
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| − | + | The card is designed with security in mind; the chip is double layered, as it uses RFID technology, this means it can only be read when slotted into a read with two separate readers on either side, protecting against scanning through clothing or the material of bags. Both the connection and the data are encrypted, using a unique key for every transaction point, added onto a unique key obtained by being actively connected to the First Bank network. There are many other methods contained within and without the card to protect against identity and fiscal theft. | |
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| − | + | ==Criticism== | |
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| − | + | The card is criticised on grounds of security and safety; although there are huge steps taken to ensure personal, and it is largely more secure than other countries credit and debit cards, there are still worries that one computer error could de-stabilise the countries economy. These worries were addressed recently with a new system in place to manage the distribution of gold, that goes overlays the computer based system; a complex algorithm created to check integrity at all times, and at any failing restore the most recent working system flash. | |
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[[Category:Sayuria]] [[Category:Global Economic Group]] | [[Category:Sayuria]] [[Category:Global Economic Group]] | ||
Revision as of 00:04, 21 November 2006
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The Unitary Quantity Mark (usually shortened to either Mark or Unitary Mark and represented by a "φ" symbol) is the name of the official currency in Sayuria, and member states of the Global Economic Group. It has been in use since 20th November 2006, upon the founding of Sayuria
After the initial use of gold for trade; during the first few years of Sayuria's life, the Unitary Quantity Mark was converted into a totally card based system, backed by gold. The gold is stored in reserve by the First Bank of Sayuria, when a transaction is made; the ownership of the gold is re-assigned.
Security
The card is designed with security in mind; the chip is double layered, as it uses RFID technology, this means it can only be read when slotted into a read with two separate readers on either side, protecting against scanning through clothing or the material of bags. Both the connection and the data are encrypted, using a unique key for every transaction point, added onto a unique key obtained by being actively connected to the First Bank network. There are many other methods contained within and without the card to protect against identity and fiscal theft.
Criticism
The card is criticised on grounds of security and safety; although there are huge steps taken to ensure personal, and it is largely more secure than other countries credit and debit cards, there are still worries that one computer error could de-stabilise the countries economy. These worries were addressed recently with a new system in place to manage the distribution of gold, that goes overlays the computer based system; a complex algorithm created to check integrity at all times, and at any failing restore the most recent working system flash.
