|User(s)|| Republic of Mcarthia|
Republic of The Kingdom of Loquntia
|Central bank||Intermicronational Bank|
The Micronational Dollar, M$ or Micro was an intermicronational currency founded in March 2016 by Anthony Clark. The electronic Micro was designed to facilitate trade in the micronational community. The project was abandoned by 2017.
The currency was seen by Clark as a way of getting a real, functioning economy to work in the Microwiki community. Frustrated by all the talk of micronational trade, with no way of allowing it to actually happen, he designed the currency 'in one evening.' It was inspired by the model used in Universal Triumvirate, which uses a standardised currency and multiple currencies to get an economy to function - a system that even allows a stock market. M$s can be used by any individual, organisation, or nation.
The currency was released on the evening of 10 March 2016 and saw relatively quick adoption in some areas of the community, with thirty-two accounts having been created two days later. The Financial Conduct Authority was founded the day after. On 13 March, the Intermicronational Bank released the first draft of the Intermicronational Bank Valuation (IBV), which was valued M$1 at £2.33. It also announced a competition for others to create a good way of valuing the currency.
The M$ is run by the Micronational Dollar Institute (MDI), which has the financially independent Intermicronational Bank (IB) as a subsidiary. The MDI is responsible for administration, while the IB is responsible for bank accounts and the supply of money. There is also an independent body, the Financial Conduct Authority or the FCA which oversees the former two. The FCA deals with fraud, competition, and consumer safety, as well as being a financial watchdog for the governing bodies.
The M$ is subdivided into parts of a dollar, down to 0.1M - pronounced as zero-point-one-micro.
The money supply was originally supposed to have been set at 25 times the number of registered accounts, but that number quickly fell to only about 11 times three days after.
The Intermicronational Bank Valuation (IBV) used a market basket to estimate a Pound Sterling valuation of the M$. When first released, it used a market basket of 11 items, estimating the value of M$1 as £2.33. The most recent figure (as of the 18th of March 2016) was £2.19.
The M$ was been aggressively marketed by themicronational, Anthony Clark's text-based online news source, but had also employed other businesses to organise wider advertising. The regularly published M$ Advertiser listed almost all currently available businesses and jobs and provided updates on the M$'s progress.