A half-joking comment I once heard from someone who was part of the group that established the NUC. It stood for "Not US Currency," but tracks the dollar because that compromise was the only thing everyone could agree on. The first stablecoin.
I wonder why they didn't go with the IMF Special Drawing Right, which is used in many other international contexts. (Including aviation - the liability limits under the Montreal Convention are in SDRs.)
Also not mentioned, they’re not unique across time: six base-36 characters is only 2 billion possibilities, wouldn’t surprise me if the largest GDS would blow through the entire space within a year. <https://support.travelport.com/webhelp/smartpointcloud/Conte...> suggests they get purged after a week, and recycled.
I wonder what fraction of the space is occupied at any given time.
After reading the article, for some reason I am finding the following fact profoundly distressing. Surely there are more than 1000 active airlines worldwide‽
> Every airline has a 3-digit IATA numeric code. 098 = Air India. British Airways is 125. IndiGo is 526. These codes predate the familiar 2-letter IATA codes (AI, BA, 6E): they were used when teletypes could not reliably transmit letters and numbers interchangeably.
Interesting post. One detail I don’t see is how the ROE info actually tells you what currency to convert to. I see the exchange rate calculation but how do you know what the final units are?
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I wonder what fraction of the space is occupied at any given time.
> Every airline has a 3-digit IATA numeric code. 098 = Air India. British Airways is 125. IndiGo is 526. These codes predate the familiar 2-letter IATA codes (AI, BA, 6E): they were used when teletypes could not reliably transmit letters and numbers interchangeably.