Small Change Module

In a rare comment I made expressing my digital unique serialized dollar idea on a public forum someone commented:  How do you handle the small change less than one dollar if the entire system is structured on unique serialized dollars all with a value of one.

It is a minor detail to deal with the small change.  The amount that fills two places to the right of the decimal point. It could actually be extended to three places to the right of the decimal point enabling payment in mills (thousandth of  dollar) .  Actually, an idea that would enable micro payments an an ideal way of paying for information on the internet.  That however is beyond the scope of this entry which will only deal with paying down to the one cent level.

Every single serialized dollar value of one has an associated owner account number.  When that owner spends from the account an amount to the right of the decimal (cents), how is the change handled?

The situation is the same as if I had only single paper dollars in my pocket and the person I am buying something from like a bus driver requires exact change.  I have to go somewhere with my dollar bill and exchange it for coins to make the exact change.  Since the dollar is digital, the exchange of one of my digital serialized dollars is made for 100 pennies.  Then I pay in the exact amount of change equal to more than 1 penny or equal to or less than 99 pennies. 

The operating system takes care of it.  It sees that there is an amount to the right of the decimal point in the total amount of the transaction.  Each registered money system account authorized to use the money system (bank accounts mapped to a single user registered to use the money system.  A single money system user can have many bank accounts  but must have at least one bank account) has a permanent digital small change coin purse. When change of ownership of change is required it goes from the paying accounts coin purse to the coin purse of the receiver money system account.

If there is sufficient change in the payers purse then payment is made.  If not then one of the payers serialized dollars taken by a change agent by changing the current owner to the new owner which is the change agent administrative account and the change agent putting 100 cents into the payer's small change purse.  That amount adds to whatever is already in the payer's change purse, if anything, but the change purse will never have more than 199 pennies.

Likewise the payee small change purse will never have more than 199 pennies in it and if it receives anything small change from a payer that puts it over 199 pennies then 100 of those pennies go to the change agent administrator account in return for the change agent causing the payee to receive one of the serialized dollars in its account.

Small Change Module could work something like that.  There are probably more elegant ways to do it, things that I have not thought of yet but this method will suffice to document that something can be devised to handle the small change problem and it may even provide an opportunity for a micro payment system in mills as an internal operating system to cover cost or also an external system for micro payments.....or both.