We have been saying that Pinkoin is money and that humanity does not need to change it to other forms of money before it can be used to purchase goods or pay for service rendered but humanity is yet to fully accept and adopt Pinkoin as money due lack of general knowledge of what money really should be. 

Pinkoin,a native currency of InksNation, is a cryptocurrency built on InksLedger Blockchain.* Pinkoin is the Democracy of Money: *Money of the People, backed by the People and Money for the People*. Pinkoin is the World’s First Distributed Reserve Cryptocurrency and is created to serve as a base currency to replace all fiat money with their Blockchain Version built on the InksLedger Blockchain as a Distributed Reserve Central Bank Digital Currencies; e.g. Digital Naira, Digital Dollar, etc as a better way of going cashless and for use as STORE OF VALUE, UNIT OF ACCOUNT and EXCHANGE OF GOODS AND SERVICES and for settlement of debts globally. 

For us to appreciate this, we need to open the eyes of humanity as to the following:

*What money really is*

*What are it's features,* and

*What are the characteristics of money* to enable us conclude that, indeed, Pinkoin is money.

*What is Money?*

Money is any object or verifiable record that people use every day for payment for goods bought or service rendered to them. We earn it and spend it but don't often think much about it. 

Economists define money as any object or record that is widely accepted as final payment for goods and services and for settlement of debts in a given county or social economic context. 

Money has taken different forms through the ages; examples include gold, silver, cowry shells in Africa, large stone wheels on the Pacific Island of Yap, and strings of beads called wampum used by Native Americans and early American settlers. 

*What do these forms of money have in common?* They share the three functions of money:

*First: Money is a store of value.* 

Money should be something we can hold on to for as long as we want before we decide to spend it. So whatever we cannot hold on to for a long time because it will depreciate in value can not be regarded as perfect money.

Before the creation of fiat corrency, every paper bill in circulation was perfect money. This was because If you worked then and earn 25 dollars, you could hold on to the money for years before you spend it because it would hold its value (without depreciation) for years. In fact, holding money is a more effective way of storing value than holding other items of value such as corn, which might rot.

Although money is suppose to be an efficient store of value, the paper money (fiat currency in circulation worldwide) is not a perfect store of value. Inflation slowly erodes the purchasing power of paper money over time. This is why the world is changing to digital form of money which must be backed by something of value that will always appreciate in value instead of depreciating in value. Example of this is Pinkoin.

*Secondly: Money is a unit of account.* 

You can think of money as a yardstick: the device we use to measure value in economic transactions. If you are shopping for a new computer, the price could be quoted in terms of t-shirts, bicycles, or corn. So, for instance, your new computer might cost you 100 to 150 bushels of corn at today's prices, but you would find it most helpful if the price were set in terms of money because it is a common measure of value across the economy. Again, *Pinkoin is a perfect example of digital money that is designed to be used as a unit of account.*

*Thirdly: Money is a medium of exchange.* This means that money is widely accepted as a method of payment. When I go to the grocery store, I am confident that the cashier will accept my payment of money. In fact, the United States of America's paper money carries this statement: "This note is legal tender for all debts, public and private." This means that every Nation's government protects the right of her people to pay with fiat currency. 

*Since Pinkoin has satisfied the first two features of money, it is now left for our government or our citizens themselves to approve it for day to day usage as unit of account, store of value and a mean of exchange of goods and services and for settlement of debts in Nigeria.*

*How did money develop?*

Early forms of money were often commodity money: money that had value because it was made of a substance that had value. Examples of commodity money are gold and silver coins. Gold coins were valuable because they could be used in exchange for other goods or services, but also because the gold itself was valued and had other uses.

Commodity money (otherwise known as God's money) gave way to the next stage; representative money (otherwise known as people's money).

Representative money is a certificate or token that can be exchanged for the underlying commodity. For example, instead of carrying the gold commodity money with you, the gold might have been kept in a bank vault and you might carry a paper certificate that represents (or was "backed") by the gold in the vault. It was understood that the certificate could be redeemed for gold at any time. Also, the certificate was easier and safer to carry than the actual gold. Over time people grew to trust the paper certificates as much as the gold. Representative money led to the use of fiat money: the type used in modern economies today.

Fiat money (otherwise known as government money) is money that does not have intrinsic value and does not represent an asset in a vault somewhere. Its value comes from being declared "legal tender"- an acceptable form of payment - by the government of the issuing country. In this case, we accept the value of the money because the government says it has value and other people value it enough to accept it as payment. For example, I accept U.S. dollars as income because I'm confident I will be able to exchange the dollars for goods and services at local stores. Because I know others will accept it, I am comfortable accepting it. U.S currency is fiat money. It is not a commodity with its own great value and it does not represent gold - or any other valuable commodity - held in a vault somewhere. It is valued because it is legal tender and people have faith in its use as money. 

The world need to go back to the era of representative-money (people's money); but now in digital form.

*However, the digital form of money should have all the features and characteristics of Money.*

A closer analysis of Bitcoin, Ethereum and all other MARKET-BASED Crypocurrency in circulation shows that they cannot be referred to as representative money. They are not backed by anything of value like gold, silver or human beings: which is the most precious asset in the world. *This is where Pinkoin comes to the rescue*. Pinkoin is the only one I know now of all digital currency that qualifies to be called MONEY because it is backed by human beings whose individual value is, at least, $800,000 on InksLedger blockchain.

There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. 

The characteristics of money are: 

durability, 

portability, 

divisibility, 

uniformity, 

limited supply, 

non-conterfeitability, and 

acceptability. 

Now, let's compare two examples of possible forms of money:

A cow. Cattle have been used as money at different points in history.

A stack of U.S. 50-dollar bills equal to the value of one cow.

Let's run down our list of characteristics to see how they stack up.

Durability. A cow is fairly durable, but a long trip to market runs the risk of sickness or death for the cow and can severely reduce its value. Fifty-dollar bills are fairly durable and can be easily replaced if they become worn. Even better, a long trip to market does not threaten the health or value of the bill.

Portability. While the cow is difficult to transport to the store, the currency can be easily put in my pocket.

Divisibility. A 50-dollar bill can be exchanged for other denominations. A cow, on the other hand, is not very divisible.

Uniformity. Cows come in many sizes and shapes and each has a different value; cows are not a very uniform form of money. Dollar bills are all the same size and shape and value; they are very uniform.

Limited supply. In order to maintain its value, money must have a limited supply. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The supply, and therefore the value, of 50-dollar bills—and money in general—are regulated by the Federal Reserve so that the money retains its value over time.

Acceptability. Even though cows have intrinsic value, some people may not accept cattle as money. In contrast, people are more than willing to accept Dollar bills. In fact, the U.S. government protects your right to use U.S. currency to pay your bills.

Well, it seems very clear at this point that—based on the characteristics of money—U.S. Dollar bills are a much better form of money than cattle. But because of its being depreciated over time due to inflation, Pinkoin is a better form of money.

To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange. Every forms of money, especially digital currency, that share these function may be more or less useful based on the characteristics of money.

Modern economies use fiat money - money that is neither a commodity nor represented or "backed" by a commodity. But Pinkoin is a digital money of the people, backed by the people and for the usage of people. That is why we call it "Democracy of Money".

Pinkoin has intrinsic value because every human being that accepts to be TOKENIZED on the InksLedger blockchain worths, at least, $800,000. 

By embracing Pinkoin, we are entering into a new Financial System called InksLedger Financial System (IFS) where every citizen (whether they work or not) shall be entitled to monthly Universal Basic Income of, at least, N120,000 worth of Pinkoin for life.

*Let's embrace Pinkoin!*

*Let's massively adopt it!*

*Let us emancipate ourselves from Economic and Financial Slavery for ever!*

*Welcome to era of Human Asset Tokenization (HAT) age.*