All people need to have something hold worth as currency is the knowledge that it can be used somewhere vaguely useful. A nearby interstellar state/society means that anyone who goes off world would use it, which in turn means anyone who lives/deal with a major settlement would be fine with it.
Roman and Imperial Chinese coins ended up being used as currency half a continent away (and were all devalued well below face value or already fiat) at much of their given value throughout (and even after the fall of the Western Roman Empire).
As far as I’m aware Hutt Space also used Republic Credits. But I’ll concede that it is also a time-space location that I don’t know enough about. (Hubristic enough to have speculated on though.)
Isn’t it implied to be some kind of digital currency? Maybe it’s like accepting Paypal where Paypal can decide to make you jump through hoops to access your money or cut off your access entirely for seemingly arbitrary reasons.
It’s certainly possible for it to be that if you dealt with people deemed verborten by the Republic that it could be frozen, or just transaction denied - so Watto perhaps risked losing all of it for his normal business practices… But I don’t think anything like that was ever mentioned in any of the Star Wars, and it is also a physical currency too (at least sometimes).
From historical precedent: yes.
All people need to have something hold worth as currency is the knowledge that it can be used somewhere vaguely useful. A nearby interstellar state/society means that anyone who goes off world would use it, which in turn means anyone who lives/deal with a major settlement would be fine with it.
Roman and Imperial Chinese coins ended up being used as currency half a continent away (and were all devalued well below face value or already fiat) at much of their given value throughout (and even after the fall of the Western Roman Empire).
Depends to much on the hutt’s policies regarding this that I don’t know enough to speculate.
As far as I’m aware Hutt Space also used Republic Credits. But I’ll concede that it is also a time-space location that I don’t know enough about. (Hubristic enough to have speculated on though.)
In fairness, it is completely fictional. So it doesn’t really require much thought. Just decide whatever is coolest and go with it.
Isn’t it implied to be some kind of digital currency? Maybe it’s like accepting Paypal where Paypal can decide to make you jump through hoops to access your money or cut off your access entirely for seemingly arbitrary reasons.
It’s certainly possible for it to be that if you dealt with people deemed verborten by the Republic that it could be frozen, or just transaction denied - so Watto perhaps risked losing all of it for his normal business practices… But I don’t think anything like that was ever mentioned in any of the Star Wars, and it is also a physical currency too (at least sometimes).