Arcane Lord

"Has President Jenna ever thought that one day the gold coin exchange certificate of the Mingshui Chamber of Commerce could become the universal currency of Netheril?" Shado asked tentatively.

If the Mingshui Chamber of Commerce also has the idea of ​​issuing credit currency, then we have to be extra careful next time. If not, then the Great Xia Territory's switch to a new currency may not be a big deal.

In this regard, Jenna's answer was of course affirmative, but at the same time she also expressed regretfully, "Even the gold coin exchange certificate discovered by the Seventon Council may not be unanimously recognized by the lords of various places, let alone the Mingshui Chamber of Commerce, a private chamber of commerce! This situation is almost impossible to happen!"

"In that case, I have to tell the lady that an order based on a certain physical currency may be difficult to pass throughout the country. The most important thing is that even if it is really passed throughout the country, it can easily be replaced by another currency."

As long as it is not a credit currency, but the value of the currency itself is used as an anchor, then there will definitely be no specific universal currency, but a wide range of currencies based on a certain material.

Just like the gold coins currently circulating in Naeseril, although the gold coins of Mingshui Chamber of Commerce are of top quality, they have not occupied the majority. They are more popular in the scope of Mingshui Chamber of Commerce, and other places generally use the gold coins cast by local lords themselves.

Considering the circulation with the outside world, the specifications of gold coins in various places are generally consistent in the region, about 5 grams, and the gold content must be at least 90%.

If it is lower than this specification, the recipient can refuse it.

Of course, gold coins are a physical substance after all, with different degrees of wear and tear, and it is almost impossible for two completely identical gold coins to appear.

Therefore, there are also some chambers of commerce in Naeseril that specialize in the business of gold coin identification, recycling, and recasting, which can make a little oil in the entire monetary system.

In fact, no party can make a lot of money stably for a long time with classical precious metal currencies. After all, the price of precious metals themselves is there, and even if there is some arbitrage space, it will quickly balance out.

Only with credit currency, the issuer can consciously adjust the total amount of market currency to harvest steadily in batches.

No chamber of commerce does not want the gold coin exchange vouchers issued by them to be circulated throughout the country and to be exchanged for gold coins of the same denomination in a stable manner, but at the same time, no chamber of commerce wants to use other people's gold coin exchange vouchers.

…

Until now, Jenna finally reacted, her eyes became sharp, she looked directly at Xia Duo and asked: "Do you want to persuade me to give up Mingshui New Currency? Or do you also want to get involved in this field?"

It is impossible to give up Mingshui New Currency. Not to mention that it has been invested before, no one would be willing to give up suddenly, and more importantly-

Once the Mingshui New Currency is given up, Jenna will probably be considered a decision-making error within the Mingshui Chamber of Commerce, and will inevitably be held accountable by the elders and directors.

Even if she uses the excuse of ascending to the gods, it may not help, or even worse, it may shake her current authority.

So even if she really did something wrong in this matter, she would not admit it before she completely controlled the Chamber of Commerce and completed the reform.

Xia Duo noticed Jenna's sensitive attitude and couldn't help but sigh in his heart. After a change of mind, he immediately explained: "I haven't considered ascending to God for the time being. In fact, what I want to say is that the order based on a certain non-special thing is unstable. Mingshui New Currency is essentially no different from the currency minted by other territories. "I don't want to persuade you to give up Mingshui New Currency, but you can consider establishing a more stable order, with a long-term and reliable business model as the cornerstone of the order, rather than gold coins that can be exchanged at any time. " "Long-term and reliable business model?" Jenna instinctively felt that the following conversation might change a lot of her ideas when she heard this, but she still pretended to be indifferent and said: "Business itself is risky, so what is a long-term and reliable business model?" "Long-term reliability does not mean no risk. These are two completely different concepts." Seeing Jenna's interest, Xia Duo promoted the new business model he had involved for her, "I wonder if Jenna has heard of the boatman's pension?" "Boatman's pension? I seem to have heard of it somewhere. Let me think about it! ”

Jenna needed to recall, and Shado did not urge her. If Jenna could remember it herself, it would be better. On the contrary, it is the most difficult to introduce a concept from scratch and convince people with this concept.

"Ah! I remember it!" Jenna's memory suddenly became vivid, "Are you talking about the regular living allowance that the Seventon Shipworkers' Guild gives to the families of the deceased crew members?"

"Yes, that's it!"

Seeing that Jenna knew something about the shipworkers' annuity, Shado further introduced: "But do you think that the Shipworkers' Guild may pay money to the families of the deceased crew members out of their own pockets?

"Of course not! In fact, the money paid by the Shipworkers' Guild to the families of the deceased crew members comes from the fees paid by the crew members in advance. According to my understanding, the money paid by the Guild to the families of the deceased crew members is about 2 to 3 times the amount paid by the crew members in advance."

"Wouldn't there be crew members who deliberately get into trouble and then give their families more money?" Jenna saw the loopholes in this model at a glance. In an era when human lives can be measured by gold coins, it is easy to have such thoughts.

Regarding this possibility, Xia Duo did not deny it, "Usually only some elderly or disabled crew members would do this, and before doing so, they would often give the captain some money so that the captain would allow them to board the ship.

"But a normal and healthy seafarer would not make such a choice anyway. On the one hand, they pay less monthly insurance premiums, and the guild will give less even if they die. On the other hand, the seafarers, especially seafarers, pay less. The income is actually pretty good.”

"So this is the long-term and reliable business model you want to talk about?" Jenna couldn't help but feel a little disappointed.

The Boatmen's Guild was originally a place where crew members gathered together to keep warm. If the Mingshui Chamber of Commerce forced its way into it, it would probably be considered ugly.

Xia Duo also explained this, “Of course it’s not just this. I call this business model [insurance]. The object is not limited to the shipwreck group, but can be insured for anyone and any situation where there is risk.

“Insurers provide such insurance services, and policyholders spend money to buy peace of mind or stop losses. As long as the premium and compensation ratio are set appropriately, and there are enough customers, this is a long-term and reliable business model.

"Enough customers and the insurance service itself are mutually beneficial. As long as the service is in place and don't be too greedy, there is almost no need to worry about being unsustainable."

After Sha Duo finished speaking, he picked up the tea cup and took a sip. He looked at Jenna who was still deep in thought, wondering what the other party would choose.