Proposal to invent a virtual currency
It would be a global virtual currency, acting as a standard or reference, in the first place, not for trading
The goal is a currency having a fixed purchasing value, regardless of inflation, recession, or any other factor
The stability of the purchasing value of this currency, is an important condition, in order to be a "STANDARD" or "REFERENCE", for many financial variables, such as the level of wages, the value of income, actual profits, and some other financial transactions
One unit of this currency would be the amount of money required to sustain an average person in an average-cost country, for one day
This includes food, transportation, rent and all the usual needs, of one person, averagely for one day
Let's suggest a name for this currency as
"DAILY" or "DAYLY" or "DAYL" or whatever name
A group of international financial experts would propose the method, or methods, on the basis of which the value of this currency unit will be calculated
That might be estimated by considering the instantaneous cost of living in an actual average country, or by the arithmetic average of the cost of living among several average countries, or the arithmetic average among all countries, or among different groups of countries
Or by more complex mathematical methods, which would be -at the same time- more accurate & closer to expressing the actual cost of living in most countries
Perhaps a body of financial experts emanating from the United Nations, or from the world's famous independent and neutral financial corporations, will announce the daily, the weekly, or the monthly price, of this virtual currency, in relation to the other actual major currencies
Of course, this proposal needs a deep feasibility study before it is implemented
There would be great advantages and benefits to this proposal, if it proves useful
