DUNHILL (CS) | As the Principality of Chitose continues to work towards the circulation of a national currency, a number of alternatives to traditional currency mediums are being explored to reduce implementation costs.
In provoking a discussion on the topic of micronational currencies, Chitosean Prince Austin Reinhart spoke jubilantly about his micronation’s progress toward circulating its currency, the Lyric, noting that the recent acquisition of a new printer should allow the first banknotes to be available next year.
Yet, Reinhart remained realistic about the long-term viability of circulating the Lyric, noting that even with the new printer, limited funds and equipment are spurring the exploration of alternative forms of currency. Among these alternatives being researched are electronic currency, handcrafted coins made from wood or clay, paper coins, and even edible currency.
The edible currency idea, according to Reinhart, is inspired by the use of parmesan cheese, cocoa beans and tea bricks historically as currency in various parts of the world. Not to be taken literally, the concept refers to using a particular edible item as the basis for payments in a bartering system, such as the use of turmeric spice wrapped in coconut fibres in the Solomon Islands.
The successful circulation of the Lyric in the New Year would represent significant progress for the Chitosean economy, which is based on agriculture and telecommunications.