If you are a philosopher, an economist and a physicist al rolled together, it will certainly make explaining the concept a lot easier! It is in fact a very simple idea, based on fundamental principles. This is also why it is very easy to implement the idea, but difficult to explain, because not everybody is familiar with the principles involved.

I have discovered lately that it is easier to introduce the idea from the monetary side and then allow the currency to explain itself.

Imagine a currency unit designed to have the purchasing power of one unit of electricity. Lets say it is a crypto coin called bitENERGY.

We now have a crypto called bitENERGY, that has an everlasting purchasing power that enables you to buy one unit of electricity with it. And as we all know, one unit of electricity = one kilowatt-hour of energy.

So our bitENERGY coin buys one kilowatt-hour of energy now and forever, in the same way that a bitUSD SmartCoin is designed to buy one USD now and forever, or a bitGOLD is a derivative equal in value to one ounce Troy fine gold.

Now keeping in mind that most essential goods - the stuff like basic foods, energy (electricity, fuel, etc.), water and basic medicines you really need to sustain a healthy life are 'energy intensive', meaning that energy is a dominant factor in the cost of producing those, what advantages would it have for you to have bitENERGY as your currency?

Will the prices of essential stuff be more stable in bitENERGY or in USD?

Which currency will it be better to have your pension savings in, bitENERGY, or USD?

Which currency will be better to negotiate minimum wages in, bitENERGY, or USD?

Which currency will have a more stable value relative to essential goods, bitENERGY, or any of the currencies with values dependent on market sentiment?

I would love to hear your opinion on this. There are more things to discuss, some of which I have already addressed in my blog. Would be grateful if you could have look at those as well.

Regards