Standard Abbreviation: gcr
History of the Galactic Credit
The GCR was created by the Representatives in 2061 after Humanity joined the Galactic Community. It was at that time that the Representatives grew tired of fielding the increasing amount of complaints about currency conversion and standardized trading, and decided they had no choice but to step in.
There was some argument when they set down the standard conversion rate for the currency, but the arguments were soon laid to rest by the Ahsi Representative from the Council of Community who politely, but firmly, reminded the Community at large that as it was a completely digital currency to be controlled by the Galactic Bank an organization, and arm of the Representatives, that was created solely to handle this new system, it could only ever have the value they set for it. So it was set at a simple conversion rate, that would stay firm, even as the other currencies fluctuate in value.
One credit was to be equal to 10 Yecixĩu dollars. It was to be equal to 50 Kavenai Verain Ree. From those two numbers, the GB extrapolated the value in other currencies by means of the current exchange rate, and finding the nearest amount that had a singular representative object. For humans, it became equal to one United States penny, which at first angered Humans because of how worthless pennies were seen to be, until they realized how valuable credits were, comparatively.
The Physicality of a Purely Digital Currency
The GB worked with members and economists from many different races in order to design something that could be commonly recognized to represent the GCR in text, and came up with the icon to the right, which was based in the design of the Paychip with which the currency would be used, and the written icon of the credit (shown left) combined.
Over the years, many people have put forth their own ideas of what a physical version of the credit could actually look like, however all ideas have been rejected, as the Representatives and GB believe that having even just a concept for the physical credit could give way to some people creating and selling fake physical credits, which while seemingly harmless since they would hold no value, would be a real problem because it would essentially be robbery or at the very least fraud and false advertising.
Economic and Cultural Impact of the GCR
Over time, it has become less common for people to attempt spending money from their own homeland within the Galactic Community. The rise of the GCR as the most stable currency in the Galaxy has led many to abandon their own land's currencies, and it's become increasingly rare to locate a place of business accessible to the Galactic Community that doesn't accept the GCR, most places actually prefer or require it, as it is the only form of currency that is not affected by things like inflation.
The only known places that do not accept the GCR, but that still fall, technically, within Galactic Community Borders are lawless areas such as Kevanti the so-called Raider Colony, or such as the infamous Trade Town, an ever moving fleet of ships through which all Blackmarket Pet Trade deals are made.
The GCR has become so ubiquitous in culture that there have been several generations that grew up on space stations or ships knowing the GCR as the main form of currency and that have never seen physical money.
It is a common insult to say you wouldn't spend a credit to get someone out of GSF custody. It is also a common insult to tell someone that their skills wouldn't be worth two credits in the Galactic Pet Trade. In the past there were commonly many articles and books published on how to earn GCR quickly, but most people eventually realized the easiest ways to earn credits were just to help other people, have a job, or sell objects that you've made or own and no longer need. People also eventually realized there was no need to obtain excessive amounts of GCR because anything they wanted, they could find for affordable prices since much of the pricing of an object in GCR is done strictly on a "how much are you willing to pay" versus "how much the merchant paid" scale, most merchants are more than willing to work with someone on prices, as there would be heavy penalties from the Representatives and GB if they did not.