I would be intrested to hear your views on currency in the federation.
This is from one of my older posts, but here it is again.
Here's "My Head Canon" on 'Money' within the UFP:
Money in the UFP never went away, it was just left as a "Digital Form" of currency for many centuries.
The Federation Credits that we see & hear about is the only form of "Universal Currency" that is truly considered "Universal" across the UFP since you can use it on ANY member world within the UFP & all of it's allies/protectorates.
The primary reason for "Digital Only" currency was because the advent of rapid manufacturing & replicators made counterfeiting of traditional "Physical Currency" WAY too easy.
Digital Currency also gives Governments more Power/Control over currency and where it goes by monitoring it and putting locks on it should somebody misuse their funds, the government/banks can freeze their accounts.
That was one of the "Ulterior Motives" behind going pure Digital Currency.
Unfortunately, due to the 'Early Rapid Additive Manufacturing that leads to the eventual Replicator Revolution', Digital Currency became the default solution due to the massive counterfeiting that was going on.
Part of the reason that StarFleet Officers don't worry about Currency is that they get paid in Federation Credits, but they generally don't use Credits while participating in service as a StarFleet Officer.
All Acommodations, Food, Items, Knowledge, Transportation, etc are provided to StarFleet Officers w/o having to be part of the greater UFP Economic System.
Thanks to Replicator Technology and StarFleet as a Organization being 100% Vertically Integrated, they have their own Supply Chain to run their operations and take care of everything, including long term payments for the Work / Service of their Officers.
That's why Beverly Crusher was able to pay for the "Bolt of Gold Fabric" and have it charged to her account on the Enterprise-D.
Verbal Confirmation along with Video Footage allowed automated charging of her digital account.
The entire financial process is seemless / frustration free.
Also, she rarely needs to buy things from outside vendors, so she's flush with Federation Credits.
Thanks to her history as a top level doctor, her joining the "Mariposas" and her nomadic life style allows her to function as part of "Doctors w/o Borders".
The Mariposa Foundation even gives her the SS Eleos XII to operate out of on a semi-permenant use basis w/o charge as long as she functions as a Doctor for their organization.
That's why she's able to live her life in a nomadic life-style as a Doctor & raise Jack Crusher as a single-mother.
Anways, back to Physical Currency, it didn't make a return until relatively recently (Late 24th / Early 25th Century).
The Ferengi is on the path to join the UFP thanks to Grand Nagus Rom & Captain Carol Freeman helping to (show/prove) that the (UFP/StarFleet) isn't filled with "a bunch of Suckers & Rubes" for people.
They of course eventually join sometime in the (Late 24th / Early 25th Century).
Captain Carol Freeman's Picture is immortalized in UFP/StarFleet history when the Ferengi first signed the documents to join the UFP as an example of a truly cunning & wise human that convinced Grand Nagus Rom that it's worth it for the Ferengi Alliance to join into the UFP.
Thanks to the eventual new UFP members, "The Ferengi Alliance"; their help within the UFP bring back Standardized Physical Currency in the form of a new "Latinum based/embeded Physical Currency".
The Physical form of Currency based on "Latinum Embedment" into the Physical Currency itself makes it "Impossible to CounterFeit".
Beyond the requirement to embed the appropriate amount of Latinum inside each piece of physical currency, there are other "Anti-CounterFeit" measures in place.
"Simple Tech" like embedded RFID chips within the Physical Currency that contains a Encrypted Unique Serial # / Date of Manufacture of each piece of Physical Currency helps to make sure nobody can CounterFeit w/o detection.
So somebody else trying to put extra Latinum into the wider Currency Supply chain is detectable since there is a Universal Government Run database of every currency ever created (Physical/Digital)
The RFID chips allow it to be traced along its journey thanks to retail outlets who check if the currency is valid during the Check-Out / Payment process.
Any form of excess CounterFeit currency that is detected will be removed and financial investigators will be sent to find out who CounterFeit the currency by making their own Latinum based Currency and try to infliltrate the total supply of money. With a Government Backed Universal Database, the total supply of currency has been kept relatively fixed.
Basically all "Digital Federation Credits" are a 1:1 asset representation to the "UFP Physical Currency".
This makes physical currency available & Financial Privacy available to individuals again; something people have opined for years, but was never able to solve on a wide scale.
All Currency is "Heavily Regulated" along with a UFP Government Law to prevent Inflation / Deflation of the value of currency.
This way, the value of each unit of currency stays constant and adjust to the size of the population and the actual wealth of the economy so that each persons buying power remains fixed per unit of currency, no matter the time frame or location within the UFP and it's sphere of influence.
After that, most of the economy is generally very stable and there are little to no financial issues within 99.9% of UFP Core Member Worlds that are heavily populated and aren't part of the expanding frontier colonies.
Also, modern UFP Physical Currency is designed after the Metric Standard, so every unit of Currency that increases in value is exactly 10x the previous unit.
Everybody loves the Metric System, even StarDates are "Metric Time" based.
Unfortunately, the only hold-outs from using the Metric System as their "Primary Form" of units of measure are the Americans on Earth and most other Alien Member Species within the UFP.
They have a Dual Measurement System where they learn both their customary species form of "Units of Measure" that co-exist with the "Metric System", just like the Americans on Earth.