I received an email from a couple researchers who published a short paper on concepts they call “iGDP” and “iCurrency”.
Notable summary from the paper:
We define iGDP, the gross domestic product (GDP) aggregated via a valuation of all finished goods and services produced within a country using a universal numeraire we refer to as iCurrency. We propose 4 criteria for iCurrency:
- it is not a currency issued (or backed) by any government;
- it is valued based solely on supply and demand;
- it is easily transferred across regions and globally accepted as a payment method; and
- it is algorithmic, with no human intervention.
It’s interesting to note that Nu entirely fulfills the first three criteria (or at least, has the capabilities of doing so on criteria 2 with its ability to peg to a new basket of goods or commodities like an iGDP), and partially fulfills the fourth. I think our ideal Nu state in the future will be achieved by resolving the fourth criteria of reduced human influence (possible examples: automated custodians, decentralized exchanges, automatic NSR-for-NBT burning rates). It seems we’re on the right track, at least as far as these researchers are concerned.
