Down the Road

What I don’t see are down the road ideas for monetary system development where all these good discussions by subject matter experts are parsed by some kind of object oriented information engineer that knows the words for UML. That should probably proceed somewhere concurrent with examination and discussion.

I am not one of those kind of experts but I would like to see an object class diagram and some wild blue yonder speculation about what the class diagram picture might look like. Kind of a napkin sketch of rough ideas. Some attributes, some methods at the high level.

The conversion from debt dollars to debt free dollars might not be readily apparent to the public user view. it still appears to be total money in an account. Money comes in and goes out. At the bank level it becomes 100% money when the fractional thing goes away. Maybe that is where the user view and associated processing system changes.

At the money system exchange manager level perhaps their user view of money as a unique instance of a class would be a serialized, denominated computer record. Denominations up to millions or billions if necessary to support trade. Associated with the unique denominated unit is a uniquely identified instance of the class called owner. Both, of course, know methods and pass messages. Money exchange takes place by exchange manager changing ownership on the least number of denominations held by the existing owner. It is traceable money. Appropriate payment denominations chosen at random from the owner’s account. That structure enables some surprising things.

Might there be benefit in sub-classes of Big Money and Little Money in the debt free system? Think of this as paper dollars and coins in the current system. Currently the first is private and the latter is public, our only sovereign money is small change.

Perhaps the change in private to public dollar money should be accompanied by a change of coins from public to private money. Coins are currently denominations less than a dollar and in the new system a new threshold level below which “small change” denominated (but not serialized) money would be required. This is a function of transaction amount and efficiency below the threshold of handling serialized denominated currency. Maybe $100. Whatever.

Anybody could run their small change private money system subject to the rules and oversight of the big money system. It would require that all money in the small system be backed by 100% big system money. Community money, iPhone money, Facebook money, etc. Free private enterprise competition.

Little Private money would be exchanged for public big money on demand.
 
Would a small change system throw a bone to private enterprise development? Gain support?

Apple? Facebook? Google?

Cryptography will be very important in the new system in order to make money as good as gold, only lacking the glitter. Encryption for communication. A cryptographic object oriented programming language. Public and private keys.

What if Ron Paul was convinced that virtual money was in fact as good as gold? He and Dennis are friends. Possiblites?

Are we really the world’s information systems leaders? Money is an information domain problem. Seems like President Obama should have declared using our best resource to create a better system for the world.

We broke the current money system. We owe something.