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Global Energy Money is a new currency that will be issued by a new entity, the Global Energy Bank.

The design is simple in concept - the Global Energy Bank will issue banknotes denominated in Gigajoules of energy in return for receipt of national currencies like the US dollar. The bank will then invest the national currencies in energy reserves, such as gasoline, electricity, and renewable fuels. The banknotes issued by the bank are known as Global Energy Money (GEM) and are backed by the energy reserves of the bank. This means that at any time, the banknotes can be redeemed for energy or its value in your national currency. This creates a real asset backing for the banknotes (similar in principle to a Gold Standard but more functional), making them a "hard" currency unlike Dollars, Yen, etc., which are backed only by debt.

The banknotes (and the GEM in your account at the Global Energy Bank) can be used to pay for energy, like electricity bills and gas at the pump, at discounted rates that the Global Energy Bank will negotiate with suppliers. GEM can also be used as a benchmark to fix commercial contract prices, which would otherwise fluctuate with energy, or commodity prices. Finally, due to the inherent stability, "hard" currency nature, and general utility of the GEM, it is intended that Global Energy Money would start to be used as a liquid currency for non-energy-related transactions. This would have extremely beneficial consequences for the global economy and environment, for reasons explained here.

The Global Energy Bank can also be understood as a scalable and democratically-owned energy investment fund, with a mandate towards sustainability, that invests your dollars in a portfolio of energy resources; the as holders of Global Energy Money, that portfolio belongs to you. 

The Global Energy Bank is currently raising seed capital to finance Phase I of its business plan, which is the extensive legal, technical and financial work required to launch the currency as a legal investment vehicle. If you are interested in investment, in becoming part of the team, or just to learn more, contact us.

Please enjoy the content on this site; it will be updated regularly, both theoretical content and blogging on the development of Global Energy Money.