Unitary Quantity Mark
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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
History
During the initial few years of Sayuria's life, only raw materials were used for trade, as the only thing needed was the construction of an infrastructure and food on everyones table. After a think tank was set up, a system named the Unitary Quantity Mark was established, and written into legislature on the 20th November 2006. It runs on a card based system, backed by silver, gold, platinum and palladium. The metals are stored in several separate high security reserves operated by the First Bank of Sayuria, a private entity. When a transaction is made; the ownership of the gold is re-assigned using a computer based system, this system has a large network of redundant systems, as well as an algorithm used to constantly monitor the system for any corruption or anomalies, at which point the entire system is flashed. The flash is distributed through the entire bank network, making it an almost instantaneous process so as not to effect transactions.
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.
Security
In response to the criticisms over security, the technologies surrounding the card were improved. For a start 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.
