Promise Language

http://www.bot.or.th/Thai/EconomicConditions/ResearchPublication/MonthlyWorkshop/Documents/Reassessing_Piti2556.pdf

Most central banks today create currency at the time of bond purchase.  Since bonds have interest attached, that means every unit of currenc...

Money is not necessarily currency. Money is a promise to deliver value, although it might have value unto itself. The description of val...

All existing currencies are said to be debt-based. Originally, the USD was backed by gold/silver. That gold was stolen behind the scenes. So...

Interest is a measurement of assigning value to risk. Time-based. All transactions have a time component which, today, is rolled up into th...

"When the people of the world have a common monetary language, completely freed from every government, it will so facilitate and stabil...

A common language/protocol creates efficiency to allow distributing all components of a transaction.  Trust is distributed.  Value translati...

Working prototype is complete.  See below. It is a free exchange software, however, does much more than that. Value-added services to as...

This works for exchange software (EG. NYSE, Amex, Nasdaq, CBOT) as well as functions as a free E-Bay or Craigslist-type sale software. Ano...

            //selling IBM             TransactionItem item = Transaction.Sell("100 IBM", "myCommerceID");             ...

Initiating Promise:    100 IBM Notice - accept: 5000 USD Initiating Promise:    5000 USD Notice - accept: 100 IBM Note the structure ...

Once upon a time, some guy had an orange and you wanted it.  So you offered to trade a banana for his orange.  But your banana was way back ...

See below for the context, but two more EDI messages might be a good idea: "Completed" to show that both sides delivered on the...

Promise Language is a standard way to yell to the global village who owes what.  If placed into a peer-to-peer database, all promises would ...

The root of money is a "promise to deliver value". Money is a human construct. Money originally was a form of bookkeeping to s...

This is an EDI format/specification/standard/protocol for monetary transactions.  It is free. Some terminology: Wealth Storage - a vault ...

An EDI format for monetary transactions prevents a perpetual fee. EDI formats are free. Bitcoin uses an algorithm designed by the NSA. Is t...

Promise. Promise. Deliver. Deliver. End transaction. The above creates efficiency in electronic transactions by providing a standar...

Metaphorically (and digitally) speaking, are there 3 Bitcoins? Was Bitcoin started on the 0 bit or the 1 bit?  Is there a switch/flapper? ...

Two people. One promise. Another promise. First delivers. Second delivers. End transaction. Time stamps at each stage allow risk ...

Imagine you are part of a drug deal or a gun deal.  Tensions are high, heavily armed security on both sides.  Most deals don't end in gu...

Promise Language and Bitcoin do not define price.  They allow value to be translated efficiently. Currencies stabilize price.  Salaries ...

Central banks require a clearing settlement device among currencies.  Gold has served that function historically, however, has issues.  Name...

Imagine going to Japan and not knowing a word of Japanese.  Your goal is to buy some salmon sushi.  With some pantomiming and lots of gestur...

even in a world of undelivered promises.

It allows other forms of value to be conveyed to facilitate a transaction.  The individual chooses the form of value.  The efficiency allowe...

Edit:  money supply and currency supply are two separate things.  Money is the abstraction of anything of value.  Currency is something issu...

Are you taking risk? There is no such thing as instant delivery. Value changes. Transaction fees cover. Dividing your lines of busin...

The internet allows efficient "Wealth Translation", but requires a standard language/protocol. While it is nice to see an altern...

They are not monetary science experts. They are computer professionals and underestimate the subject matter. See the W3C wiki for more i...

Communication * (Trust + Performance) = Accountability The above equation led to the creation of a monetary transaction specification w...

The financial system is composed of a series of broken promises going back to treaties and trust funds.  Modern central banks were deliberat...

Only living beings can make promises.

Promise Language is a standardized protocol for transactions that solves the problem of money.  All transactions are "promises to deliv...

Transactions today require common trust in govt/central bank, Promise Language distributes that trust. At its most basic, Promise Languag...

(Sorry for the grammatical errors.  I type as a I think, and when I switch plurals with pronouns, it means that I have conceptually abstract...

PL can be implemented at a small local bank as easily as a central bank. It instantly assures trust among participants while reducing transa...

Similar to HTML or XML, PL (Promise Language) is a simple framework describing promises that can be read by humans and processed by computer...

It is a public specification for contracts (promises) between individuals. Promise Language (PL) provides a framework that can be easily rea...

Promise Language is a loose framework for describing promises between individuals. Similar to contract law, but simple. Money is simply a...