1. Easily Adopted – An individual accepts some part of money or any currency in return of some goods or materials, must be satisfied with the form of money he/she is getting. One should accept it comfortably as payment. To generate easy acceptance, a commodity must have some genuine advantages other than its monetary value. For example, gold can be considered as it is easily accepted everywhere because it can be used for multiple purposes.
2. Persistent – The currency should be persistent and its value shouldn’t diminish with time. It is the uniformity of money that it doesn’t get affected with usual ongoing phenomenon in life. It can be transferred from one to other and can be protectively reserved by anyone without getting deteriorated. It should hold its value, doesn’t matter what time or season it is. Gold coins are good example to it.
3. Divisible – The currency should be partible. It means if you make parts of money or divide it, then each divided part should hold a particular value accordingly. It means that if the money is to be divided quarterly then each quarter should be 25% of the whole.
4. Invariable – Its value should remain stable i.e. should not change with time. Here the changes that we are talking about are related to its value only. Changing standard of value is similar to changing gram or liter. It simply means that the value of a commodity i.e. used to measure the value of other commodities, should remain consistent or invariable.
5. Conveyable – It should be portable. It means that It must hold capability to be moved from one place to another. An ideal currency is the one that can be economically transferred from one point to other.
6. Scarce – A good and valuable currency is something which cannot be possessed easily. It should be hard to achieve it.
7. Safe & almost impossible to counterfeit– While a currency is being transacted or acquired, it should be fully protected and difficult to interrupt in between. For this feature to be turned into real, transactions followed by peer-to-peer technology is must. Via this, utmost security can be attained. We are not discussing about safes and locks here because while talking about it globally, it should be protected on internet.
8. Flexible – Currency should contain elastic characteristics. It should be capable of performing certain alterations as per economy’s need.
9. Economic – The cost to create or generate currency must be lower than its value.
10. Positive Past Records – A major requirement for a currency to be accepted is that it should hold enough positive past records i.e. a considerable history of acceptance.
11. Decentralized – The currency should be decentralized i.e. without any involvement of central authorities. This enables more security and decreases transaction fee that is being consumed by banks or government bodies. This facility makes money transactions untraceable.
RilCoin is being launched to fulfill all the above characteristics. Now the fact that how come RilCoin facilitates everything that is needed in an ideal currency, is being explained in further points.