Terra (proposed currency) should not be confused with Terra (blockchain).
| Name Abbr: | TRC |
| Iso Code: | None |
| Iso Comment: | theoretical currency only |
Terra (the Trade Reference Currency, TRC) is the name of a proposed "world currency". The concept was revived by Belgian economist and expert on monetary systems Bernard Lietaer in 2001, based on a similar proposal from the 1930s.
The currency is meant to be based on a basket of the nine to twelve most important commodities (according to their importance in worldwide trade). Lietaer opines this would provide a currency that wouldn't suffer from inflation:
The basic principle emerged from early concepts presented in an article in the French newspaper Le Fédériste on 1 January 1933. The idea to establish a French: L'Europa – monnaie de la paix (English: Europe - Money of peace), was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey.