Friday, January 16, 2015

Money as a Thing on the Internet of Things

My conceptual structure design for debt free Positive Money makes it an object thing in an object oriented system at the Class level and as a unique identified singular instance of its parent Cass:Money.  The granular instance is a single uniquely identified dollar with a unit value of $1.

One simple way to uniquely identify each dollar is with a serial number.   In a prior post I suggested that another way would be the assignment of an IPv6 number.  That was prior to the IoT becoming a popular concept.  I now like the idea of money as a thing on the Internet of things.  Every dollar in the cloud has its own IPv6 unique  number.  It is a permanent thing.  Always residing in one place but always knowing, because it is on the great internet of things, the account that claims its singular ownership.  All accounts have an owning entity.  That entity being a thing on the Internet of things

Money does not move from account to account.  It is a fixed thing.  Only the relationship to an owning account changes with transactions.

Money therefore satisfies the definition of a thing on the Internet of things.  It is always known in real time where it is at any given time by its IP number and by association who on the Internet of Things owns it in an account on the Internet of things.  The owner is a thing on the Internet of thigs as well because they are identified by an IP number and have verified communication abilty to act as a thing on the Internet of things.

It gives new meaning to the phrase:  No man is an island.  Everything is a thing.
A thing on the IoT if it has an IP address and is connected.


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