  This paper fundamentally reformulates economic and financial theory to
include electronic currencies. The valuation of the electronic currencies will
be based on macroeconomic theory and the fundamental equation of monetary
policy, not the microeconomic theory of discounted cash flows. The view of
electronic currency as a transactional equity associated with tangible assets
of a sub-economy will be developed, in contrast to the view of stock as an
equity associated mostly with intangible assets of a sub-economy. The view will
be developed of the electronic currency management firm as an entity
responsible for coordinated monetary (electronic currency supply and value
stabilization) and fiscal (investment and operational) policies of a
substantial (for liquidity of the electronic currency) sub-economy. The risk
model used in the valuations and the decision-making will not be the
ubiquitous, yet inappropriate, exponential risk model that leads to discount
rates, but will be multi time scale models that capture the true risk. The
decision-making will be approached from the perspective of true systems control
based on a system response function given by the multi scale risk model and
system controllers that utilize the Deep Reinforcement Learning, Generative
Pretrained Transformers, and other methods of Generative Artificial
Intelligence (genAI). Finally, the sub-economy will be viewed as a nonlinear
complex physical system with both stable equilibriums that are associated with
short-term exploitation, and unstable equilibriums that need to be stabilized
with active nonlinear control based on the multi scale system response
functions and genAI.
