And economics, or commerce, is basically the science of exchangeable rights.

Source: https://www.lewrockwell.com/2023/03/alasdair-macleod/why-credit-needs-a-golden-anchor/

And to that end, our intention continues to be to transition our existing common share ownership interest in Canopy Growth into new exchangeable shares once its shareholders approve this transaction.

Source: https://seekingalpha.com/article/4568169-constellation-brands-inc-stz-q3-2023-earnings-call-transcript?source=feed_all_articles

Citigroup analyst Nikhil Gupta Transocean to generate almost $2 billion in free cash flow until the end of 2025 which in combination with exchangeable note conversions would result in net debt decreasing to well below $4 billion over the next 30 months.

Source: https://seekingalpha.com/article/4622466-transocean-stock-solid-q2-2023-earnings-long-term-outlook-reiterate-buy?source=feed_all_articles

It is the same as the fiat currency, and is exchangeable one-to-one with the fiat currency.

Source: https://indianexpress.com/article/upsc-current-affairs/upsc-essentials/upsc-essentials-daily-subject-wise-quiz-economy-8547856/

Replacing it will be currencies exchangeable for real values, be they energy or commodity based.

Source: https://www.lewrockwell.com/2023/08/alasdair-macleod/beware-the-great-unwind/

The company intends to use the net proceeds, in part, to refinance its 5.50% exchangeable notes due 2024.

Source: https://seekingalpha.com/article/4636934-fed-says-more-pain-needed?source=feed_all_articles