If Money is to be designed to live forever as a uniquely identified entity instead of for the life time of a loan then it needs a good home. The nature of Money is a conceptual object thing existing on a computer just like the words you are reading here. Therefore I will give it a home as well as a purely hypothetical existence there as a starting point for a wild and crazy fantasy about what the monetary system could be.
On this fantasy journey always keep in mind the distinction between what money is and what it does. Money is an information structure with rules like our language. What it does is also like using our language to say anything we want to say.
The fantasy home of Money will be a computer server at Fort Knox. Since there may not be any gold left there as suggested by Bill Still. Actually the home of Money would be somewhere up in the Cloud and its security protected by the NSA, giving the public investment in NSA some real purpose in the security world.
Every single dollar would exist as a computer record at Fort Knox and have a name. Its computer record name would be a unique serial number. Its denomination would be the value of 1. Each dollar would be an instance of the Super Class: "God Almighty Dollar" or "GAD:. Each dollar would be called an eGAD.
The attributes of the Super Class GAD:
Denomination. For initial presentation purposes a value of 1. Greater denomination amounts will be the subject of more complex system design later.
Serial Number: A unique number with information content to be developed as a more complex system design later.
Owner: The financial entity to whom the eGAD belong. The owner is identified the the owner's unique financial identity number. Every financial entity has one. A person cannot transact money without one.
Date of last owner transaction exchange. This links to transaction history and the name of the previous owner
Unlike the current financial system where the principal record is the name of the owner of an account in which money resides, the eGAD itself is the principal record of ownership with the name of the owner to which it belongs changing. This allows owners to say "My money has my name on it"
No comments:
Post a Comment