Currency perspectives for Europe - water money and the private currencies aggregator

The thesis is focused on the meaning of money and searching for a suitable definition of currency. It deals with prospects made by eminent economists-provocatively representing opposing spectrums of opinions-from Hayek to Krugman. Much space is also devoted to views of unorthodox economists such as Keiser, Borio, Gesell, Jackson, Clauss or Graeber. In the field of microeconomics, there the author uses his own entrepreneurial experience too. Much attention is paid to economic models, especially to the gaming models -- ie. to those which enable a direct empirical evaluation of theoretical propositions. The core of the thesis lies in the formulation of several basic monetary problems which are typical for current European and global financial crisis. Those are contradictory functions of money, liquidity trap, productivity trap, indebtedness and inflation as a potential threat. In the practical part, there a question is being discussed whether the solutions proposed by the author are capable to solve these very problems. A concept of a digital freigeld-based fiat currency inspired by the water circulation is designed. Furthermore, virtual currencies and private currencies are discussed as well as the phenomena of Bitcoin. The final point is devoted to a suggestion to abolish the monetary monopoly and to develop the aggregation of various independent currencies using a specific marketplace where private currencies would be traded. That-the author believes-could lead to a practical realisation of Say's law.