April 28, 2020 - Nairobi
The World Bank is taking a new approach to financial backing. Rather than gold, silver or other precious metals, the new backing is grain. That's right, growable, harvestable food source materials. In a partnership with Global Seed Bank, the World Bank has begun distributing a new currency called the Grainote. These notes come in small enough denominations that they can be used as daily currency between the growing number of people who live on the lowest income in the world--but there are even denominations that can be carried by inhabitants of developed nations.
"It used to be that we backed money with metals, which we haven't done for a long time. You can't exchange Ameros or Euros for anything substantial anymore. But even if we still did, in the case of economic collapse, a family can't do much with gold." Says, Ilya Truskonov the head of Grainote development, "With this new system, families can rely on the fact that the money in their pockets can be exchanged for grain."
Squatter cities all over the world are adopting the Grainote as their first mainstream currency. Until now, inhabitants of squatter cities could only trade with each other. Now they have a world tradable currency.
The World Bank has also deemed this trade a philanthropic investment. The Global Seed Bank, which holds the backing is growing and harvesting 40% of the holdings, yielding a large return on the investment. Inhabitants of the European, American and Asian Unions can purchase 50G notes with their local currency, which will allow further stockpiling of the seed backing. Moreover, those who invest in the first 1 billion G will receive a lifetime return on their investment in the form of new Grainotes as their seed backing yields profit in the form of new seeds.
For more information on the Global Seed Bank, see here:
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