This sounds complicated to me even when I re-read it! I need someone with a simple view of what I say to express it simple for me.....if it is worth saying.
What if:
1. Every national digital currency was debt free and resided in a "cloud" repository at the granular level of a uniquely identified instance of unit of one of the chosen currency system. In this system each unit of currency would be associated to a current owner. As a function of money transactions old owner would change to new owner. Owners however would continue to view "their money" in term of an Account which summarizes as a total all the currency units associated with the current owner in the cloud to a total amount of money in the account of the owner
2. If anyone in any foreign country wanted to buy something from another country it must be paid for in the units of currency of that country. The units of currency would never leave the country cloud repository. Any account belonging to any account owning entity in the world would be associated with being the "Current Owner Account" of a foreign currency uniquely identified monetary unit of one.
All Accounts would be as country specific as Currencies. Both Accounts and currencies would therefore be geographically specific but independent to freely associate. Account would be restricted to the country where the Import/Export entity actually does (is doing) business, is registered or otherwise allowed to do that business, not just a choice of convenient state or PO box number. While Import/Export business is a major sector of world trade, they are really no different in properties and behaviors than tourists with a passport that de facto gives them authorization to buy and sell in a foreign country. Buying changes current ownership of unit currency associated with the tourist's home country account to the home country account of the buyer.
3. At this point a number of interesting situations could develop depending on how an exchange mechanism would work:
a. Major import/export entities of buying/selling goods and services to any country would be "owners" of foreign currencies that would never "leave" the country in reality. Only account owners, foreign or domestic would enter and leave a country's currency system as current owners associated with the currency. If there is no exchange mechanism then ownership of the foreign currency cannot be extinguished by an exchange creating ownership of a different national currency through a currency conversion system. The foreign owner account of any country's currency could otherwise only buy/sell with that currency but could trade goods and services with any account entity in using owned currency in a third party country and transferring ownership to its trading partner. The trading partner would agree to be the new owner of a country's unit of currency and the sum total of the units held would be associated to a new current owner and equal to the total amount of that specific currency in the account of the entity owning the account.
b. A complicated currency exchange system could be designed to handle currency conversion from one currency to another, however.................
Why get complicated when there is a One World Currency system?
The concept is that Money never "Moves" only ownership identified to an owning Account changes. This separates the attributes and behavior of Money and Account into two different classes. Currently, money (digital currency) is represented only as a total on hand value in an account. Actually two accounts because there is always a counter party in the debt money system.
There is still a counter party in in a debt free monetary system. It is the primary social stakeholder with a vital interest in the structure and function of the monetary system and that is all of us. We are the primary Use Case stakeholders, not the banks.
There are certainly disconnects in the model expressed here that would become obvious in a logic diagram. However.....It sounds like a good model idea a the time.
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