Joe Firestone - The Platinum Coin Returns
Joe's crazy idea is orders of magnitude less crazy than mine and much closer to a real solution to the the immediate problem. Fundamentally, he looks at what money is and gives it a discrete value at the macro-level of One (or maybe more as necessary or a variable amount beyond current need to draw from as required) Platinum Coin rather than my micro granular level of a discretely identifiable unit instance of an aggregate class of all Money.
I have followed everything he has written and it is fascinating. One of the comments on his entry said it makes him proud to be an engineer. It is an engineering problem and Joe is an engineer. Information is subject to engineering using basic objects subject to inherent conceptual attributes as well defined in substance and performance as the metrics of physical things employed by engineers to build physical things. On the information level there is latitude to assign attributes to conceptual things rather than work with the inherent attributes of physical thing or create new physical structures to satisfy engineering requirement.
The end is the same, physical or conceptually. The engineering design must work. Prove all the structural components and their relationship functions do what is intended as the design objective.
Joe is a hell of an engineer!
I'm not sure but intuitively I feel that his design approach is similar to mine: Move the matter of debt to a sub-system component of the Monetary System. Get the horse before the cart and stop the tail wagging the dog.
Engineers built on a foundation of fact and factual relationships. Conceptual structures must have the same degree of integrity as physical structures or they fall down.
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