FRX vs Other Global eSim providers..., page-491

just so much going on.......it's hard to keep up.

Using current digital technology, the issuance of an Asian common digital currencies is relatively simple. We need an international organization to supply a common currency. For example, it is possible to use something like AMRO, which was established in the ASEAN+3 as the secretariat of the Chiang Mai Initiatives. One of the main roles of international organisations would be to issue Asian common currency bonds, which are backed by central banks to issue digital currencies denominated in Asian common units. International organisations buy government bonds from central banks and issue Asian common currency bonds. In this way, the issuance of Asian digital common currency would also contribute to the development of the Asian bond market.Another role of international organisations would be the production of the Asian digital common currency (ADCC) as an electronic medium and its transfer to central banks. This process would hence be similar to how central banks today receive physical banknotes manufactured at the printing bureau. The buying and selling of government bonds and Asian common currency bonds would, of course, be digital, and the distribution of electronic wallets, and so on would be done digitally, not to say that the Asian digital currency itself1 would of course be digital. The ADCC would then be issued by the central banks of each country. Like the current paper currency, it would be distributed to the economy through banks. We discussing the exact workings and the distribution process in more detail in our paper.............


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