Some self-righteous beliefs about the quality that private-issued money should have

From my earlier article, I was talking about the possibility of the private-issued money. I want to continue this topic today as well. The most important is under what rules the private issue their money. Without putting any rules on it, the society will not all agree on the value of the money that the private issue. I think there are three fundamental rules that we should set when allowing the private to issue their money.The first rule is who has the right to issue the money. The second rule is what quantity of money one private institution should issue. The third rule is how the private-issued money circulate in our financial system. Then we need to test if these rules work. Firstly, these rules should allow money to flow and exchange freely. Secondly, the rules need to avoid hyperinflation or deep deflation, or at least have the tools to solve such problems. Thirdly, these rules give the third party a way to intervene in the financial system just in case that something goes wrong. The last, the rules will encourage competitions instead of monopoly. For the next few days, I want to focus on this question how we can possibly establish a system of private-issued money.