Post by andrewbb on Mar 17, 2014 0:40:46 GMT
This works with any currency, including Bitcoin. It is not a currency. It is a language of promises. It solves the idea of money.
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 at your hut. So you picked up a seashell or something and handed it to him in exchange for his orange. You promised to go get your banana and deliver it later. That is the origin of money. The seashell was a symbol that represented a contract to deliver a banana.
Alternatively, both people could have yelled out to the surrounding village that you owed that person a banana. Then you didn't need the seashell. Everyone knew you owed that person a banana. Then you go back to your hut the next day and get the banana. Then you yell out to the village that you paid back the banana. Let's hope that banana did not go bad overnight.
Similarly, 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 be tracked. Open promises and delivered promises. I was thinking today how to design that database:
Promise table
Type of entry (Initiating promise, promise, notification)
Id (GUID for that promise or a GUID corresponding to the person)
Description (describes what was promised)
TimeStamp
So.. it would work like this:
[transaction]
[promise]
1 banana
[endpromise]
[promise]
1 orange
[endpromise]
[endtransaction]
One entry for the Initiating Promise: my Id, his Id, "1 banana", 12/21/2003 12:15:34
One entry for the Promise: his Id, my Id, "1 orange", 12/21/2003 12:15:45
One entry for the Delivery: his Id, my Id, "1 orange", 12/21/2003 12:15:48
One entry for the final Delivery: my Id, his Id, "1 banana", 12/22/2003 8:23:32
That's it.
Now. That shows you made good on your promise. That's your rep. Now you can go anywhere in the world with the Promise App that shows your history of promises.
It's free. No transaction fees. Works with any currency on earth.
Contact me if you need to finalize specs
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 at your hut. So you picked up a seashell or something and handed it to him in exchange for his orange. You promised to go get your banana and deliver it later. That is the origin of money. The seashell was a symbol that represented a contract to deliver a banana.
Alternatively, both people could have yelled out to the surrounding village that you owed that person a banana. Then you didn't need the seashell. Everyone knew you owed that person a banana. Then you go back to your hut the next day and get the banana. Then you yell out to the village that you paid back the banana. Let's hope that banana did not go bad overnight.
Similarly, 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 be tracked. Open promises and delivered promises. I was thinking today how to design that database:
Promise table
Type of entry (Initiating promise, promise, notification)
Id (GUID for that promise or a GUID corresponding to the person)
Description (describes what was promised)
TimeStamp
So.. it would work like this:
[transaction]
[promise]
1 banana
[endpromise]
[promise]
1 orange
[endpromise]
[endtransaction]
One entry for the Initiating Promise: my Id, his Id, "1 banana", 12/21/2003 12:15:34
One entry for the Promise: his Id, my Id, "1 orange", 12/21/2003 12:15:45
One entry for the Delivery: his Id, my Id, "1 orange", 12/21/2003 12:15:48
One entry for the final Delivery: my Id, his Id, "1 banana", 12/22/2003 8:23:32
That's it.
Now. That shows you made good on your promise. That's your rep. Now you can go anywhere in the world with the Promise App that shows your history of promises.
It's free. No transaction fees. Works with any currency on earth.
Contact me if you need to finalize specs
