You will not be able to register (i.e. to create your primary identity) unless both an initial parent namespace and an initial currency are specified.

Upon registration, a namespace will be created for you with the specified parent namespace and an intial account (in the specified currency) will be created for you within your own namespace. That account will be given the same name as the currency.

For example, if the parent namespace is someneighbourhood.sometown.somewhere, the username you have chosen is fred and the initial currency is local£.possibly.somewhere.else, then

• your namespace will be fred.someneighbourhood.sometown.somewhere
• your initial account will be local£.fred.someneighbourhood.sometown.somewhere

You will not be able to use any name that already exists within a namespace.