That means that the fundamental criterion for inclusion in the dictionary is established currency of use.
It's a much easier solution to simply transact in an already established currency that users understand and utilize.
Argentina, Estonia, Lithuania, Bulgaria and Bosnia have unified their domestic currencies with stronger anchor currencies by establishing currency board systems (CBSes), or what I refer to as currency boardlike systems.
This was followed in the 1990s, when Argentina (1991), Estonia (1992), Lithuania (1994), Bulgaria (1997) and Bosnia (1997) established currency board-like systems.
One of the attractive points about Bitcoin compared to more established currencies and payment platforms is that transaction fees tend to be lower than those of platforms that transact in more established currencies like dollars.
If you stick to established currencies, you will still need to determine how to fund your government, and the best way to do this may be anathema to the very reason you start your own country: taxes.
Most countries should see that they have a choice: either to join a regional currency, such as the European Monetary Union, or to establish a currency board, as Argentina did in 1994.
A monarch can establish a currency, and stipulate how much of some metal each unit of that currency shall contain.
According to Iran, OPEC will also look for ways to establish a currency basket to offset the declining value of the dollar.
Unlike Spain or Greece, Argentina never gave up its own currency, but in 1991 it did the next best thing: it rigidly pegged its currency to the U.S. dollar, establishing a "currency board" in which each peso in circulation was backed by a dollar in reserves.
