Bizkit
The day we acknowledged the bizkit as legal tender was the day we abdicated our position as a truly sovereign nation.
Su Ji-Hu, President of South Korea
B
izkits are units of cryptocurrency in which all
Hegemony International transactions are denominated.
History
Introduction
T
he bizkit was launched as a new cryptocurrency by Hegemony International in 2028. Initially dismissed as corporate folly, the currency began to achieve major adoption in 2030 when Hegemony began paying their employees in bizkits. Given Hegemony's massive workforce, this led to a rapid appreciation of the cryptocurrency's value. While employees were initially given an option to be paid in bizkits or their local currency, this "choice" was swiftly abandoned when the company began offering a premium for anyone who agreed to be paid in bizkits. By 2034, they ceased offering employees any option to be paid in local currency.
Strong-Arming
In 2036, the company began demanding that all vendors settle their accounts in bizkits. By 2038, Hegemony refused to do business with any vendors who would not accept payment in bizkits. Although this led to great upheaval amongst the company's suppliers, they were ultimately forced to comply given Hegemony's dominant market position.
Soverign Acceptance
By 2041, Hegemony began pressuring local and national governments to accept payment for all taxes and regulatory fees in bizkits. While this led to severely strained relations between Hegemony and numerous sovereign nations, by 2050 the company threatened to entirely pull out from any country that refused to accept payments in bizkits. Faced with the threat of economic collapse if Hegemony were to abandon those countries entirely, the last national government caved in during 2052. At this point, Canadia is the only country in the world where bizkits are neither recognized nor accepted as legal tender.
Profit Multiplier
This near-total adoption of the bizkit has multiplied Hegemony's profits, given that they always withheld a significant store of the original coins that were minted. In fact, the currency's domination is now so complete that there are a dozen national governments that have simply abandoned their original currencies in favor of the bizkit.
Significance
Destabilization
W
hile the bizkit has been a boon to Hegemony's fortunes, it has simultaneously led to a steady devaluation in most national currencies. Not only has this destabilized many governments, it's also fostered a situation where vast worldwide economies are almost utterly dependent upon both the bizkit - and the whims of its corporate patriarch.
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