Currencies

Currencies
- Governance
  - Who is originating/sponsoring the currency project
    - Individual
    - Community
    - Corporation / Organization
    - Government
  - How will major future decisions be made? By whom?
  - Currency Design
    - Initial Team
      - Transparent Meetings/Communications
      - Closed Meetings/Communications
    - Evaluation Criteria
    - Redesign Cycles
- Plan
  - Targeted Issue or Problem to be Addressed
  - Targeted Community of Users (early adopters w/ shared values)
  - Intentions/Purpose
    - Desired flows to catalyze
    - Indicators of flow
    - Currency System
      - Currency System Name (a currency SYSTEM contains a set of multiple inter-related currencies)
      - Currency 1
        Name
        Description
        Formalization Method
        Nominal (bestowed by title - e.g. employee of the month, knighthood)
        Ordinal (ranked - e.g. Gold/Silver/Bronze medalists)
        Interval
        Rational
        Currency Symbol
        Display format (e.g. USD $X,XXX.00)
        Intended Role
        Commercial Exchange
        Gift Economy / Non-Commercial Exchange
        Incentive / Reward / Penalty
        Trust / Reputation / Status
        Measure
        Intended Users
        Target Demographics
        Targeted Messaging to those Groups
        Participant Classes
        Definition (must be completed for each valid participant class)
        Name of Class
        Description (Definitiion, Role & Purpose of class)
        Participant Type
        Any Individual
        Qualified Individual
        Qualification Criteria
        Any Business
        Qualified Business
        Qualification Criteria
        Any Community / Association / Non-Profit
        Qualified Comm / Assoc / NPO
        Qualification Criteria
        Governmental Body
        Activation Triggers
        under what conditions might someone automatically become a member of this class
        Termination Triggers
        under what conditions might someones membership be terminated in this class
        Membership Fees
        Time Period
        Fee Amount
        Valid currencies for payment & percentages
        Referral Bonus
        for signing up a new member of this class
        Balance Calculation
        Summation
        Average
        Bounded Average
        Time Boundary
        Upper / Lower Bounds
        Multiplicative
        SumProduct
        Ratio
        Percent of Target
        Current Rank
        Percentile Rank
        Name (by named threshold levels)
        includes True/False, On/Off conditions
        Custom Formula
        Balance Transparency
        Classes who can see current balance of a user
        All
        Selective
        None
        Interest Rate
        Derived from a formula
        Demurrage Rate
        Derived from a formula
        Starting Balance
        Maximum Balance
        Initial Credit Limit
        Maximum Credit Limit
        Formula for Moving Credit Limit (bounded by Initial and Max above)
        Currency Issuer? (can put new currency into circulation)
        Currency Redeemer? (can take currency out of circulation)
        Individuals
        Businesses
        Employee Sub-Accounts / Expense Accounts
        Default Spending Policies
        Default Limits
        Individual Policies
        Individual Limits
        Members
        Non-Profits
        Employee Sub-Accounts / Expense Accounts
        Communities
        Governments
        Employee Sub-Accounts / Expense Accounts
        "Foreign" Currencies (conversion accounts)
        Other Custom Classes
        Supply
        Scarce (supply below demand)
        Sufficient (available on demand)
        Abundant (supply greater than demand)
        Other (uncorrelated to demand)
        Functions
        Unit of Account
        Medium of Exchange
        Liquidity Enhancers
        Convertible to other Currencies
        High Value / Anchor Vendors
        Tax Payment
        Legal Tender
        (Near) Universal Acceptance
        Store of Value
        Token of Status
        Performance Metric
        Value Reference
        Other Currency (dollars, etc.)
        Unit of time (e.g. hours)
        Measurable Quantity (oz. of gold, barrels of oil, kilowatts of electricity, etc.)
        Basket (specific combination of above items)
        Redundancy Requirements
        Centrally hosted / managed
        Mirrored
        Fully Distributed
      - Currency 2
        (same sub-sections as above)
      - ...Currency n
        (same sub-sections as above for each additional currency)
  - Outcomes / Goal / End Game
- Life Cycle
  - Issuance
    - Type
      - Mutual Credit (created with a credit and offsetting debit)
      - Backed (credited based on another credit - e.g. dollars deposited to purchase Berkshares)
      - Fiat (only credited, no offset)
      - Meta-Currency (non-credited, solely derived from other currencies - e.g. Dow Jones Index)
    - Means
      - Issuer Promise
        Secured
        Unsecured
      - Recipient Promise
        Secured
        Unsecured
      - Triggered Event / Conditional
      - Arbitrary / Willy-Nilly
    - Authority
      - Centralized (one participant class can issue)
        Authorized User or Class
      - Selective (some participant classes can issue, some can't)
        Authorized Class(es)
      - Fully-Distributed (all participants can issue)
  - Transactions/Transfers
    - Circulation
      - Freely Circulating (most monetary currencies)
      - Non-Transferable (most reputation currencies)
      - Controlled Transfer (certain people or conditions required. Think stock brokers or estates)
        Authorized participant class(es)
        Conditions for transfer
      - Approved Transfer (approval required for all transfers - e.g. private stock or LLC membership)
        Approval workflow
    - Media
      - Tokens / Coins / Bills
        Anti-Counterfeiting Measures
        Precious metal standards, weights, alloys
        Serialization / Bar Coding
        Rare Material (specialized paper, etc.)
        Watermarking
        Entaglio Printing / Microprinting
        Holograms
        Security Stripes
      - Vouchers / Checks / Certificates
        (see above anti-counterfeiting measures)
        Magnetic Ink
      - Smart Cards
        Anti-Counterfeiting
        encrypted data, PINs, public/private keys
      - Voice / DTMF Phone call
        CallerID authentication, passwords, Account#s, PINs
      - Portable Device
        Cell Phone
        Handheld
      - Paper Ledgers / Passbooks
        Serialized
      - Electronic Records
        Proprietary Network (e.g. Visa, Amex, etc.)
        Open Network (web / Internet / email / messaging)
        Authentication Methods
        certs, keys, PINs, passwords, etc.
        Account ID / Swipe Cards
        Anti-Counterfeiting
        Holograms
    - Types
      - must complete for each transaction type below
        Commissionable?
        Roles
        Single Party
        Role Name
        Dual Party
        Role 1 Name
        Role 2 Name
        Multi-Party
        Role Names X, Y, Z, P, D, Q (e.g. buyer, seller, buyer's broker, seller's broker)
        Operation
        Credit only - Entity A gets B of Currency C
        Credit & Debit - Transfer Currency C from X to Y
        Balance pre-authorization requirements?
        Multiple Credits / Multiple Debits
        Certain Roles Receiving Fixed Amounts
        ...Receiving Fixed Percentages
        Debit only - Entity A loses B of C
        Rating (numeric but not +/-)
        Multiplicative (Non-Debit/Credit)
        Transaction Permissions
        Pre-Validate Availability of "funds"
        Earmark to "hold" funds
        Conditions Required
        Validation requirements
        Approvals Required
        Authorization Requirements
        None
        Single Party Authentication
        Single Party Password / PIN
        Dual Party Password / PIN
        Immediacy
        Immediate Transfer
        Scheduled Transfer
        Hold in Escrow
        Release from Escrow
        Payment Period (like for loans)
        Recurring Payment Schedule (like for loans)
        Transparency (who can see the transaction data)
        Transaction Amount
        Select, Admins, Partipating Parties, Specific Participant Classes, All Classes, Public
        Transaction Date
        Select, Admins, Partipating Parties, Specific Participant Classes, All Classes, Public
        Transaction Description
        Select, Admins, Partipating Parties, Specific Participant Classes, All Classes, Public
        Transaction Parties & Roles
        Select, Admins, Partipating Parties, Specific Participant Classes, All Classes, Public
        Aggregated Data
        Select, Admins, Partipating Parties, Specific Participant Classes, All Classes, Public
        Limits
        For each Role / Participant Class
        min. amt., max. amt., frequency limit, # of transactions, # trans per cycle, amt. per cycle, total lifetime #
        Per relationship limit
        e.g. Each user can have one (and only one) rating in reputation currency N for each entity
        Fees
        Time Period Usage Fees
        Paid by which roles
        Per Transaction Fees
        Fixed Amount, Percent or Amount + Percent
        paid by which role(s)
        Formulaic (custom formula)
        paid by which role(s)
        Tax Consequences (required reporting for most trade networks)
        Sales Tax?
        Income Tax?
        VAT?
        Deductable?
      - Gift
      - Donation
      - Loan
      - Rating
      - Praise
      - Reproach
      - Rebate
      - Discount / Coupon
      - Interest / Demmurage
      - Fee (membership, transaction, others)
      - Purchase (possible sub-types: Retail, Wholesale, Hard Goods, Soft Goods, Service)
      - State Change (see Life Cycle - Conversion)
      - other transaction types...
    - Composition Constraints
      - Just this single currency
      - Other Allowed Currencies
        Currency Minimums (e.g. min. 50% in dollars)
        Currency Maximums
        Percentages Allowed of each
    - Auto Compounding
      - Time-Cycle
        # of years/months/weeks/days/hours
      - Rate
        Positive Balances
        Negative Balances
    - Accounting Method
      - Single-Entry
      - Double-Entry
      - Triple-Entry (double plus digitally signed transaction receipt)
    - Audit Requirements
      - No audit trail
      - All changes require reversing or adjusting entries
      - All changes authorized by all parties effected
      - All changes digitally signed by all parties effected
    - Thresholds
      - Named
        e.g. think white belt, yellow belt, green, orange, brown, black, etc.
      - Ranked
        Top X
        Top X %
      - Enumerated
    - Triggered Events
      - Time Triggers
        Calendar Time
        Annual, Day of Year, Semi-Annual, Quarterly, Monthly, Day of Month, Weekly, Day of Week, Daily, Hour of Day, Minute of Hour
        Elapsed Time
        90 days, 30 days, 24 hours, etc.
      - Internal Condition/Trigger
      - External Condition/Trigger
  - Conversion or Co-Function
    - Conversion Limits
      - Currency 1
        Cumulative Conversion Cap
        Caps for Participant Class
        Class 1
        Per Transaction
        Per User per Period/Cycle
        Per User Cumulative Limit
        Total Limit for Participant Class
        ... Class n
      - ...Currency n
    - Conversion Method
      - Blended Conversion
    - Co-Functionality
      - Parallel Reputation Currency
  - Retirement
    - Methods
      - Repayment / Zeroed
      - Attrition / Degradation
        (It is often smart to include methods for reclaiming value of leakage / lost currency units)
      - Redemption
        Requirements
        Min. Amount
        Min. Thresholds (in another currency...like repuation)
        Limits
        Max. Amount
        Per Participant Class
        Per User
        Per Time Cycle
        
        Rate
        Discounted Backing
        Blended
      - Expiration
        Calendar Date
        Elapsed Period
        Inactivity Period
      - Triggered Event
      - Persistent / Non-Retiring