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nChapter 179: Spirit Stone Coins (1)

nTranslator: Daoist6fubtiW

nAfter they finished discussing the issue of the magic tool shop in Guang ‘an Prefecture’s wandering cultivator market.

nChen Daoxuan returned to the main topic.

n” Daochuan, the currency that our Chen Family is going to issue in Seaview Immortal City has a profound meaning. We can’t take a wrong step. Otherwise, it will be beyond redemption for our Chen Family!” he instructed.”

nHearing Chen Daoxuan make this matter so serious…

nChen Daochuan nodded solemnly and said,””Young Clan Leader, you can rest assured. I will definitely take good care of this Changping Central Bank that you mentioned.”

nDespite Chen Daochuan’s assurance, Chen Daoxuan knew very well that Chen Daochuan knew nothing about the bank’s operating mechanism. He had to be on the side to give pointers at all times.

nIn fact, when he used spirit stones back then, Chen Daoxuan had a deep feeling that using spirit stones as currency was really an extremely inconvenient thing.

nFortunately, itinerant cultivators had storage bags. In addition, itinerant cultivators were short on money and usually did not have many spirit stones on them. They did not experience the trouble of having too many spirit stones and not being able to fit in their storage bags.

nHowever, many of the cultivators in the family probably had such a ‘painful’ experience.

nFor example, the 80 million spirit stones allocated to the western defense zone by the Guang ‘an Prefecture alliance army was transported by ten Spirit Void Battleships.

nEighty million Spiritual Stones, if piled on the ground, would be as high as a small mountain.

nThere was no storage bag in the world that could hold so many spirit stones.

nIn fact, from that time on, Chen Daoxuan had the idea of replacing spirit stones with a currency.

nIt was just that the Chen family was weak at that time.

nTheir sphere of influence was limited to Shuanghu Island, and there were only 11 cultivators in the clan.

nIf someone were to talk about replacing spirit stones with spirit stone coins for trading purposes, not only would outsiders laugh their heads off, even the Chen Clan cultivators themselves would probably want to laugh when they heard this.

nChen Daoxuan knew that issuing a currency was definitely not a simple matter.

nFirst of all, the currency needed collateral.

nIn his previous life.

nIn the beginning, the currency was issued with gold as collateral, which was the gold standard system.

nThis system was divided into three stages, or three forms: gold coin, gold bullion standard, and gold exchange standard.

nEven the world currency in his previous life, the US dollar, used the gold standard system for a long time.

nBut later.

nWith the continuous development of productivity and materials, the gold standard currency system could no longer adapt to the rapid development of productivity.

nThis was reflected in the fact that too many products were produced, and there was too little gold to issue enough currency.

nIf it was a large amount of money, it would be used to adapt to the development of productivity.

nHowever, this way, they would inevitably face the risk of gold acceptance.

nIn other words, a bunch of people who wanted to accept gold with money would find that there was no gold to accept.

nThis was undoubtedly an extremely dangerous thing. It would cause a destructive blow to the credit of the currency.

nWhen society reached this stage, it also meant that the gold standard currency system was gradually declining.

nIn modern society, the issuing of currency was no longer backed by a physical object. Instead, it had become an intangible collateral, which was the country’s credit.

nOf course.

nIf the Chen family used their family’s reputation as collateral to issue a currency, they would probably be spat on by the people of Guang ‘an Prefecture.

nChen Daoxuan still had this bit of strength.

nSince it was impossible to use credit as collateral for the currency issue, they could only choose to use the spirit stones themselves that everyone agreed with as the acceptance item.

nEven so.

nChen Daoxuan had to make sufficient preparations if he wanted the freelance cultivators and clan cultivators of Guanhai Immortal City to accept such a currency.

nExcept for the acceptance of money,

nThere was another difficulty, which was the currency itself.

nIn his previous life.

nMost countries issued paper currency.

nThe quality of the currency produced varied according to the anti-counterfeit methods of each country.

nSome currency had excellent anti-counterfeit methods and were difficult to counterfeit.

nAnd for some currency, any printing and dyeing factory could do better.

nThe currency issued by the Chen family had to be difficult to counterfeit and easy to issue.

nThis was not a simple matter.

nOr rather, these two requirements were somewhat contradictory.

nIt was difficult to counterfeit, which meant that it was difficult to counterfeit the currency. It was easy to issue, which meant that the manufacturing speed was fast.

nIn order to resolve this contradiction, one must have superb coin-making skills.

nAnd this problem.

nIt was the first mission that Chen Daoxuan had given to the Magical Equipment Research Institute that Chen Daochu had established.

nShuanghu Island.

nA streak of light streaked across the sky and landed in the spirit vein of Shuanghu Island.

nIn front of him.

nA unique building appeared in front of Chen Daochuan.

nOn the plaque of the building, the words ” Changping Magical Equipment Research Institute ” were written.

nChen Daochuan and the others were basically immune to the endless stream of new terms used by the young clan leader.

nOr rather, it was not immunity.

nIt was the education that Chen Daochu and Chen Daochuan had received since they were young. It was Chen Daoxuan’s initial education for them.

nThey had come into contact with these new terms since they were young.

nOn the contrary, when he grew up and saw the different names in the outside world, he felt a little strange.

nThis point.

nIt was even more so for the clansmen of the Fu generation who had received this kind of education since they were young.

nTo some extent, their horizons were closer to the children of Chen Daoxuan’s previous life.

n“This is it.”

nChen Daoxuan smiled at Chen Daichuan.” Let’s go.””

n“Young Clan Leader, please ask!”

nChen Daochuan made an inviting gesture.

nChen Daoxuan nodded and walked toward the interior of the Magical Equipment Research Institute. Chen Daichuan followed closely behind.

nThe Changping Magical Equipment Research Institute was built in an ancient style.

nThe structure was very similar to that of the traditional immortal halls in the Infinite Star Sea, but the interior was completely different.

nChen Daochu had divided them into small” laboratories “.

nThat’s right, it was the same kind of underground fire laboratory that Chen Daoxuan had built in Red Copper Mountain.

nHowever…

nThe Changping Magical Equipment Research Institute’s laboratory was almost empty.

nConsidering the age and refining level of the Chen Family’s cultivators, they didn’t have the ability to run a laboratory on their own.

nEven though their talent in refining artifacts had been “enhanced” by Chen Daoxuan’s Dao preaching.

nNow.

nOther than Chen Daoxuan, Chen Daochu was the only one in the Chen family who had the ability to create a new type of magic tool with the help of Chen Daoxuan’s preaching.

n“Good boy, well done!”

nAs soon as he entered the laboratory, Chen Daoxuan heard Chen Daochu’s excited praise.

n“What’s wrong? Why are you so happy?”

n“Young Clan Leader?”

nHearing this voice, Chen Daochu turned around and saw Chen Daoxuan and Chen Daichuan walking in one after another.

n“Daochuan, when did you come back?”

nSeeing Chen Daochuan, Chen Daochu, who had grown up with him, said excitedly.

n“I was just transferred back to Seaview Immortal City by the young clan leader today.”

n“That’s great!”

nHearing the two reminisce, Chen Daoxuan interrupted with a smile,””Alright, let’s catch up later. How’s the research on the mission I gave you? It’s been almost half a year.”

n“Success, success!”

nHearing Chen Daoxuan mention the mission, Chen Daochu became excited..

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