Minister of finance Su Jain-Rong going on a lengthy tirade about the importance of rice in a balanced diet
Beijing, 2021 - Taiwanese minister of finance Su Jain-rong announced the arrival of a new cryptocurrency to hit the market this Tuesday, in hopes to combat the growing influence of the Chinese Yuan. Acknowledging the power of Bitcoin, but seeing it as fundamentally too abstract, Taiwan has proposed an alternative: RiceCoin, a cryptocurrency with its value pegged to the price of a grain of rice. “We wanted to create a currency that the common person could understand and relate to in their daily lives”, said minister Su. “This coin will allow even the lowest of our citizens to trade in their rice for crypto.” Taiwan will begin a project of eliminating the New Taiwan Dollar over the next 10 years, hoping to be fully operating on RiceCoin by 2031. When pressed on how a coin tied to the value of 1 grain of rice would essentially be worthless, Minister Su replied: “Have you ever had braised pork rice? Try it and see if you tell me that again.” He added sarcastically, apparently offended. And he may be right, speculators say the coin is set to have a market cap of 3.18 trillion RC, since this is the amount of grains of rice produced in Taiwan in 2020. From high ranking businessmen to peasant farmers, no one can seem to get enough RiceCoin. Minister Su added that in order to combat deflation, coins will deteriorate over time, unless virtually frozen, in order to stop the “fermenting” process. New coins will be produced with each yearly crop harvest. If you would like to buy RiceCoin, listings should be available on Coinbase or PayPal, or at your local Chinese supermarket.
Mark Davis, Kalkaska Chronicle
