Our Corporate Nation
16-09-2005, 16:22
Please give me your opinions and revisions for this proposal. :)
International Electronic Currency Network Act (IECNA)
To create and maintain a new fund transfer network, creating international economic stability and standard recognized by all member nations.
Article I
Section
1
ACKNOWLEDGING that most all nations and regions have a different currency standard and thousands of banks worldwide, with the dollar as comparison to determine the value of one country or regions said currency to another.
2
IMPLEMENTING a form of internationally recognized electronic fund transfer for use by the entities of all member nations; providing inexpensive to produce debit cards to use in lieu of traditional forms of currency. The creation of the network unit production and all work produced by the act will help offset the costs of setting it to use.
3
PREVENTING international creditors from placing excessive fees on international monetary conversions and purchases; allowing an alternative to the use of creditors for the use of electronic funds.
4
MANDATING member nations accept and gradually adapt to the use of the new standard monetary electronic funds network within 6 to 18 months.
The provisions will be subsidized by the bank or banks of their own corresponding country, (through bonds) for nations that cannot afford to implement the program with government funds alone, however all costs will be minimal due to the simplicity of implementing the program.
Article II
PROVISIONS
Section
1. The new currency transfer system will exist through electronic means, not through any one central bank but through a network of all member nation banks.
2. No paper or coin shall be produced for this undertaking; all funds shall be placed on secure electronic debit cards in the form of the international standard of the dollar.
3. The official name will be known as International Credit, (iCred) (iC)
4. The iC system deals with whole numbers and thousandths only; therefore the lowest whole denomination on an iC can only be 1 and the lowest decimal amount can only be .001. All remainder amounts shall be rounded off to 0 if at or under .00049 and .001 if over .00049.
5. The iC is allowed to be used by nations outside of the UN to increase its strength in the global markets as the electronic fund transfer standard, however will not be required for non-member nations for use.
6. No iC cards will have any funds on them at the time of issue.
7. All citizens and respective entities of all member nations will be provided with at least one personal account at no out of pocket cost to the citizens themselves.
8. iC accounts will have extensive initial and optional security features.
Sub-Section
A Initial Features
Part
1. 128-bit encryption on all iC cards.
2. Citizen name stamped into card and coded into magnetic strip.
3. Hologram featuring the UN logo placed on card to detour counterfeits copies.
4. Minimum 8-digit alphanumeric pin code for account access.
5. 4-digit numeric code for purchase access.
6. Manual and automatic deposit.
B Optional features
Part
1. Optional features are at discretion of use by countries to provide, mandate or legislate.
2. All optional features are free, but left optional to prevent infringement of civil rights laws of individual countries.
3. Bio-metric thumbprint ID for use to replace pin numbers
4. Photo ID on cards.
5. On-line account access.
6. Up to 3 separate personal accounts.
7. Up to 4 separate accounts for more than one individual.
9. Use of iC is allowable for use by all ages.
10. Signature of receipts is at the discretion of individual nations.
11. Individual member nations will be still allowed the use of their own currency within
Their own nation alongside the iC and is not meant as a replacement for currency itself.
12. Individual abuses, (including but not limited to) theft, money laundering, fraud, etc. will result in a temporary or permanent ban on the use of the iC system at the discretion of the laws per individual nations. The remainder of funds
13. Lost or stolen replacement cards are re-issued at the discretion of individual countries banks and or governments.
14. The iC and its uses will not determine the outcome or status of individual bank or government or credit union loan credit ratings.
15. The iC is available but not intended for use outside of UN member nations nor is meant to be a replacement for traditional banking accounts in or out of the UN.
16. Computer networks established through this act may be made available by private banks, industries, or government, but must not interfere with any known as legal lawful and abiding funds, transfers or accounts established by this act.
17. iC funds are not immune to taxes of their nation of origin, or nations involved with the iC program.
18. Each nation must provide its own accounts and international network connections for its own citizens.
International Electronic Currency Network Act (IECNA)
To create and maintain a new fund transfer network, creating international economic stability and standard recognized by all member nations.
Article I
Section
1
ACKNOWLEDGING that most all nations and regions have a different currency standard and thousands of banks worldwide, with the dollar as comparison to determine the value of one country or regions said currency to another.
2
IMPLEMENTING a form of internationally recognized electronic fund transfer for use by the entities of all member nations; providing inexpensive to produce debit cards to use in lieu of traditional forms of currency. The creation of the network unit production and all work produced by the act will help offset the costs of setting it to use.
3
PREVENTING international creditors from placing excessive fees on international monetary conversions and purchases; allowing an alternative to the use of creditors for the use of electronic funds.
4
MANDATING member nations accept and gradually adapt to the use of the new standard monetary electronic funds network within 6 to 18 months.
The provisions will be subsidized by the bank or banks of their own corresponding country, (through bonds) for nations that cannot afford to implement the program with government funds alone, however all costs will be minimal due to the simplicity of implementing the program.
Article II
PROVISIONS
Section
1. The new currency transfer system will exist through electronic means, not through any one central bank but through a network of all member nation banks.
2. No paper or coin shall be produced for this undertaking; all funds shall be placed on secure electronic debit cards in the form of the international standard of the dollar.
3. The official name will be known as International Credit, (iCred) (iC)
4. The iC system deals with whole numbers and thousandths only; therefore the lowest whole denomination on an iC can only be 1 and the lowest decimal amount can only be .001. All remainder amounts shall be rounded off to 0 if at or under .00049 and .001 if over .00049.
5. The iC is allowed to be used by nations outside of the UN to increase its strength in the global markets as the electronic fund transfer standard, however will not be required for non-member nations for use.
6. No iC cards will have any funds on them at the time of issue.
7. All citizens and respective entities of all member nations will be provided with at least one personal account at no out of pocket cost to the citizens themselves.
8. iC accounts will have extensive initial and optional security features.
Sub-Section
A Initial Features
Part
1. 128-bit encryption on all iC cards.
2. Citizen name stamped into card and coded into magnetic strip.
3. Hologram featuring the UN logo placed on card to detour counterfeits copies.
4. Minimum 8-digit alphanumeric pin code for account access.
5. 4-digit numeric code for purchase access.
6. Manual and automatic deposit.
B Optional features
Part
1. Optional features are at discretion of use by countries to provide, mandate or legislate.
2. All optional features are free, but left optional to prevent infringement of civil rights laws of individual countries.
3. Bio-metric thumbprint ID for use to replace pin numbers
4. Photo ID on cards.
5. On-line account access.
6. Up to 3 separate personal accounts.
7. Up to 4 separate accounts for more than one individual.
9. Use of iC is allowable for use by all ages.
10. Signature of receipts is at the discretion of individual nations.
11. Individual member nations will be still allowed the use of their own currency within
Their own nation alongside the iC and is not meant as a replacement for currency itself.
12. Individual abuses, (including but not limited to) theft, money laundering, fraud, etc. will result in a temporary or permanent ban on the use of the iC system at the discretion of the laws per individual nations. The remainder of funds
13. Lost or stolen replacement cards are re-issued at the discretion of individual countries banks and or governments.
14. The iC and its uses will not determine the outcome or status of individual bank or government or credit union loan credit ratings.
15. The iC is available but not intended for use outside of UN member nations nor is meant to be a replacement for traditional banking accounts in or out of the UN.
16. Computer networks established through this act may be made available by private banks, industries, or government, but must not interfere with any known as legal lawful and abiding funds, transfers or accounts established by this act.
17. iC funds are not immune to taxes of their nation of origin, or nations involved with the iC program.
18. Each nation must provide its own accounts and international network connections for its own citizens.