The Transfer Procedure
The minimum hourly rate (mHR) was chosen because as a common denominator it can be found in, or introduced into every national economy. The mHR serves two functions. Firstly, it forms the foundation on which nations can build their economies and secondly, it ensures that even the lowest paid workers in every economy is capable of exchanging one working hours pay for one international Worqour.
The units of time Worqour does not interfere with established pay rates or with the various levels of financial rewards already existing within a national economy.
Individuals who earn more per hour than the minimum hourly rate earn a correspondingly greater amount of Worqours for every hour they work.
Dividing a higher hourly pay rate by the lower mHR rate will supply the Worqour equivalent of the higher hourly rate.
This ensures everyone from the very bottom rung has access to the Worqour bridging currency and therefore access to the global market.
The Transfer process involves three basic steps:
STEP 1: Departure-Conversion
The concept requires one nation to convert a sum of money, in their own fiat currency, using their own predetermined minimum hourly rate (mHR), into ‘units of time’ (Worqours). This involves the process of division.
STEP 2: Transit
The Worqours are then transferred, by a suitable method, over a border to another nation.
STEP 3: Arrival-Conversion
The recipient nation, in turn, using their predetermined minimum hourly rate (mHR), converts the ‘units of time’ (Worqours) forward into their own fiat currency. The re-conversion requires the process of multiplication.
The Registered Worqour Trade Marks