Kruna: Difference between revisions
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=== Banknotes === | === Banknotes === | ||
[[File:Banknote.png|thumb|A banknote]] | [[File:Banknote.png|thumb|A banknote]] | ||
On October 7th, 2018, Matty707 proposed a bill in [[Parliament]] to establish banknotes for commerce and business operations. The bill received unanimous | On October 7th, 2018, Matty707 proposed a bill in [[Parliament]] to establish banknotes for commerce and business operations. The bill received unanimous support and on November 4th, 2018 banknotes were made officially available for public creation and use. The original maximum banknote value was k5,000. Banknotes were popular with the general public but eventually concerns grew regarding the ability to hide wealth and player balances. Fears also mounted as banknotes appeared to be duplicated using various methods by some players. | ||
In August of 2019, [[Cabinet of Stratham|Cabinet]] decided to decrease banknote value from k5,000 to k300 primarily to discourage hiding wealth and promote banknote use more as currency exchange for goods or services. Many players expressed disapproval with the decrease in banknote value due to difficulties in paying employees, creating large denomination banknotes for transactions, and increased inventory space banknotes were using. | In August of 2019, [[Cabinet of Stratham|Cabinet]] decided to decrease banknote value from k5,000 to k300 primarily to discourage hiding wealth and promote banknote use more as currency exchange for goods or services. Many players expressed disapproval with the decrease in banknote value due to difficulties in paying employees, creating large denomination banknotes for transactions, and increased inventory space banknotes were using. | ||
Due to the backlash | Due to the backlash to the decrease in banknote value, on January 23rd, 2020, Member of Parliament Codes320 proposed a bill to increase the limit from k300 to k1,000. The bill received a vote of 5 ayes to 2 nays, however was owner vetoed 3 days later by Koalition as he "felt that [the limit] is high enough." As a result of the veto, many following Parliamentary campaigns ran on a policy promising to attempt to increase the banknote limit. | ||
On October 16th, 2021 due to concerns regarding hiding wealth and balances, Kailabeann, a member of the Temporary Governing Council, announced that the ability to create banknotes would be removed effective immediately. However, redemption of banknotes would still be allowed until August 3rd, 2022, when they were removed completely. | On October 16th, 2021 due to concerns regarding hiding wealth and balances, Kailabeann, a member of the [[Temporary Governing Council]], announced that the ability to create banknotes would be removed effective immediately. However, redemption of banknotes would still be allowed until August 3rd, 2022, when they were removed completely. | ||
== Design == | == Design == | ||
Latest revision as of 22:21, 18 December 2023
The Kruna is the official currency of the Republic of Stratham. The Kruna was first introduced in 2016 when the server was released. New players currently start with 1000 Krunas (sometimes formatted k1,000). Monetary policy and regulation of currency is carried out by the Department of Economy, however the senior administrative team has made small monetary adjustments as well.
As of December 18th, 2023 the total amount of Krunas in circulation is k61,447,214, however this includes an overwhelming number of inactive players and their initial starting balances. More accurate estimates have been put forward by members of the Department of Economy.
History
Banknotes
On October 7th, 2018, Matty707 proposed a bill in Parliament to establish banknotes for commerce and business operations. The bill received unanimous support and on November 4th, 2018 banknotes were made officially available for public creation and use. The original maximum banknote value was k5,000. Banknotes were popular with the general public but eventually concerns grew regarding the ability to hide wealth and player balances. Fears also mounted as banknotes appeared to be duplicated using various methods by some players.
In August of 2019, Cabinet decided to decrease banknote value from k5,000 to k300 primarily to discourage hiding wealth and promote banknote use more as currency exchange for goods or services. Many players expressed disapproval with the decrease in banknote value due to difficulties in paying employees, creating large denomination banknotes for transactions, and increased inventory space banknotes were using.
Due to the backlash to the decrease in banknote value, on January 23rd, 2020, Member of Parliament Codes320 proposed a bill to increase the limit from k300 to k1,000. The bill received a vote of 5 ayes to 2 nays, however was owner vetoed 3 days later by Koalition as he "felt that [the limit] is high enough." As a result of the veto, many following Parliamentary campaigns ran on a policy promising to attempt to increase the banknote limit.
On October 16th, 2021 due to concerns regarding hiding wealth and balances, Kailabeann, a member of the Temporary Governing Council, announced that the ability to create banknotes would be removed effective immediately. However, redemption of banknotes would still be allowed until August 3rd, 2022, when they were removed completely.
Design
The Kruna is a coin, likely made from gold or a copper alloy giving it a distinctive yellow color, however the coins themselves have never been minted so their composition is unknown. The coins are stamped with a large "K" in the center with a thick outer rim. The official BusinessCraft store depicts the coins as having no "K" in the center and a reeded or "ridged" edge appearing to have 18 total reeds.
Banknotes are the only minted form of the Kruna ever created. They could be made by players and the value would be determined via command. The value of the banknote made would be deducted from your balance. Banknotes appeared in your inventory as white paper with an enchantment. The design of the paper banknote is unknown beyond the in game appearance, however the official BusinessCraft store depicts them similarly to US Dollars, with a rectangular green paper with a large oval symbol in the center.