When distinguishing one currency from another currency, people use the phrase "monetary unit". The monetary units of many countries can have the same name (Dollar, Euro, Franc, ...) and people often include the country’s name to distinguish those currencies (e.g. Australian Dollar). With the formation of unified monetary areas, many countries nowadays share a common currency like the Euro.
The future Asian currency - the AO currency is a common currency issued by the Global Ethnic Community and the Asian Overseas Community. The AO currency is expected to be applied from January 2025, as a common currency connected financial institutions around the world.
Considering the main function of currency as a means of payment prescribed by law to serve the exchange of goods and services of a country, therefore, AO currency is also known as "Currency in circulation.". AO currency can take the form of paper (Certificate and Coupon), metal (Coin), or digital. The Global Ethnic Community and the Asian Overseas Community issue AO gold and silver coins for exchanging goods such as petroleum, rice, salt, gold, ... and can be replaced by Certificate, Coupon, reward points, or digital coin issued by Global Gold Bank System.
To be able to carry out the functions of the AO currency, the Global Ethnic Community and the Asian Overseas Community decide to mint AO Gold coins and AO silver coins, and cooperate with the governments to issue AO currency. Therefore, AO currency must have the following basic features:
- Circulation - the most important feature: AO currency is the only future currency that will circulate and be accepted by the people of the Global Ethnic Community and the Asian Overseas Community. In addition, the World Trade Center also uses AO as the sole means of payment.
- Ease of Recognition: AO currency is specially printed and designed, making it easy for users to identify and not be confused with other currencies, thereby allowing AO to circulate smoothly. That's why the Gold and Silver Certificates or Coupons issued by the Global Ethnic Community and the Asian Overseas Community are printed unlike any other high-quality paper.
- Divisibility: AO currency have many different denominations so that the seller can receive the correct amount of sales money and the buyer will receive the exact amount of change when paying with large denomination notes. This feature helps currency overcome the inconvenience of barter.
- Durability: Currency must be durable to perform the function of storing value as well as being useful in exchange. A perishable object cannot be used to make money, so Certificates are printed on high quality material, while the AO Coins are made of durable metal.
- Ease of Transportation: To be convenient for people to store and carry, currency must be easy to transport. That is why AO Certificates and AO Coins have very moderate size and weight.
- Scarcity: For a currency to be valuable and easy to accept, AO must be scarce. Otherwise, storage will no longer make sense and will not be valuable in commodity exchange. Therefore, historically rare metals such as gold and silver were used as a medium of exchange and today, the Global Gold Bank system only issues a limited number of notes and coins.
- Uniformity: Certificates or Coupons of the same denomination must have the same value, regardless of the issuance time. Only then will the new currency function as a unit of calculation in a convenient and fair way in exchange.