Thursday, January 20, 2011

Promise Language is a standardized protocol for transactions that solves the problem of money.  All transactions are "promises to deliver value" so anything of value can be conveyed.  Time, labor, land, goods and services are all freely transactable so money supply becomes moot.  Wealth Translators facilitate those trades.  Promise Assurers allow two individuals to transact anonymously with assurance their promises will be delivered upon.  Examples are Mastercard or Visa. 

Central banks made promises to provide value, but reneged.  Over time, Promise Language encourages the central banks to deliver something of value and back their paper and digits with something tangible.  That could be land or precious metals, but could also be the rice or wheat output of a country or region.

The core of the global monetary system is based on a lie:  printing paper and passing it off as something of value.  Promise Language changes that core to trust and accountability.  That is a "fractal" that permeates through the economy and over time would eliminate war and solve the environment because Promise Language encourages people to deliver on their promises without force.  The change is not instant, but occurs over time.  In 6 months, business people would see the creativity allowed and the economy would begin to grow.  It might take 5-10 years for central banks to be forced to back their product with tangible value or go out of business.

Promise Language is like a simplified version of contract law, but only living beings can make promises.  Corporations can contract, but only their officers can make promises.  For example, a revenue officer or a purchasing officer.  Accountability goes to the officer, backed by their contract with the paper corporation.

You could have a diamond card with a diamond held in a Wealth Storage facility that could be viewed with a robotic arm showing you your particular diamond.  You might own 73.234% of that diamond and it is spendable at the grocery store.  When applying for a loan, you might only show the lender your diamond transactions because your copper or gold promises might not be as perfect.