Hjalmar Schacht
To some extent the Blocked Rand system mirrored Germany's Reichsbank system introduced under Hjalmar Schacht in 1937, called "aski" accounts — short for "Ausländer Sonderkonten für Inlandszahlungen" ("foreigners' special accounts for inland payments"). In other words, creating a closed loop system that did not create a claim on the foreign exchange reserves of the Third Reich, or in this case South Africa.