The evolution of the global monetary system.

Open_Presenter

[color=var(--md-box-samantha-normal-text-color) !important]From Newton's classical gold standard system to the international status of the US dollar in the Bretton Woods system and then to the underlying asset of the new gold standard system - Bitgold.

[color=var(--md-box-samantha-normal-text-color) !important]In 1821, at the proposal of Isaac Newton, the United Kingdom established the gold standard system, and the price of each ounce of gold was set at £3 17s 10d. Through the fixed exchange ratio between the pound and gold, the association of "pound-gold-silver" was established.

[color=var(--md-box-samantha-normal-text-color) !important]In 1944, an international conference was held in the town of Bretton Woods in the United States, establishing a currency system centered on the US dollar. The United States promised that 35 US dollars could be exchanged for 1 ounce of gold, the US dollar was pegged to gold, and the currencies of other countries were pegged to the US dollar.

[color=var(--md-box-samantha-normal-text-color) !important]In 2014, Dr. Bright's "Currency Public Issuance System" innovatively proposed the PCIM (Pledge of Custodian Gold to Mint Currency Mechanism). In 2024, based on the blockchain technology, the mainnet of Openverse Network went online and Bitgold was issued, starting the journey of practicing the new gold standard system.