General Financial Corp

General Financial Corp (GFC), also known as Galactic Financial Corp, is a corp traded in DeVCoins on the Digitalis Open Transactions server.

Its initial issue of stock consisted of 1,000,000 “shares”.

It is believed that its major shareholders include DeVCorp, General Development Corp and General Retirement Corp.

It is also believed that it is itself a major shareholder in all three of those “corps”.

Because it aims at participating in the financial sector in general, its holdings are not all denominated in DevCoins; it intended to accumulate a diversified portfolio of assets denominated in numerous currencies. In doing so however it is intended that it should not forget that DeVCoins are its mother-currency, the currency in which its Initial Public Offering took place, and presumably the main currency in which its investors are interested.

General Financial Corp was, and continues to be, instrumental in refinancing participants in the Galaxies Online project, significantly lowering their interest burden. For example the corp borrowed a million units of GMC currency from the Canadians, the loan being denominated for repayment purposes in CDN, and used the funds to pay off many startup loans, charging the debtors a higher rate of interest than the Canadians had given to the corp. In the long term this is expected to have been a very profitable move, but due to the fact the loans they gave to debtors were denominated in DeVCoin, which turned out to be going down as compared to CDN, it was touch and go for a while as the one currency declined relative to the other faster than the difference in interest rates between the loan taken and the loans given out. The result was a massive increase in GFC share value initially, followed by an extended decline.

There is a forum-thread about the Corp at

As we learn from that thread, the rate of increase in exchange-rate of Canadian Digital Notes (CDN) caused the Corp to continue to be in dire straits until it managed to convince the Martians to re-finance them with a loan denominated in DeVCoins (DVC).

Since then it has been clear sailing for the Corp, as their operating-capital loan and the loans they provide to their clients are both denominated in the same currency, thus eliminating the problems that exchange rates had been causing them.

Currently (Mon Dec 30, 2:49 AM AST) they charge their clients

INTEREST_RATE=1.00010405 # 0.25001900%/day compounded hourly

while being charged by the Martians

INTEREST_RATE=1.00005205 # 0.12499400%/day compounded hourly.

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