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Re: holding of funds

From: Andrew Bransford Brown <andrewbb@gmail.com>
Date: Sat, 23 Jul 2016 20:02:27 -0500
Message-ID: <CAPS+YFLZk3P3M0nMNNOpKA2fMJSUPt+tdg2j3Rx50kvysiOF7g@mail.gmail.com>
To: "Romero, Javier (ISBANUK)" <Javier.RomeroColomo@isbanuk.com>
Cc: "public-interledger@w3.org" <public-interledger@w3.org>
Javier, good questions.

I think the following can be useful for separating implementation from
protocol.  This conforms to contract law.  Your questions pertain to the
"Deliver" event:

*CommerceID EventType Description*
Andrew     Offer     $20
Andrew     Terms     Lasagna
Computer   Notice    "This is an open legal binding offer."

Christine  Terms     $25

Andrew     Accept
Computer   Notice    "This is a binding legal contract."

Christine  Deliver   Lasagna
Andrew     Deliver   $20
Computer   Notice    "Contract complete."

The above forms what I call a "transaction stack" of events.  So, it
functions as a data structure, a protocol, and potentially a Contract
Scripting Language (CSL).  Each event would have a "snippet" to form a
smart contract.  It will handle any transaction in any currency (or
barter).  I think this can get ALL ledgers to talk the same language (easy
to roll this into debits/credits).

FYI, I have 20+ years of IT executive and design experience, a degree in
Accounting, and a stock trading background.  Comments would be appreciated.

Andrew B. Brown
10723 River Plantation Drive
Austin, Texas  78747
(512) 947-8282
http://linkedin.com/in/keihatsu


On Sat, Jul 23, 2016 at 9:51 AM, Romero, Javier (ISBANUK) <
Javier.RomeroColomo@isbanuk.com> wrote:

> When the legacy ledger does not have the capability of holding funds, what
> would be the proposed solution?
>
>    - Assume the risk in the same way as an offline card transaction
>    (depending on amount etc...)?
>    - Get the balance at the moment of sending the instruction and then,
>    on the way back where all the crypto conditions have been met apply the
>    transfer if there are funds or fail it in case there aren't?
>    - 3rd party escrow?
>
> I guess each case needs assessment but wanted to see if you guys have a
> clear view in this.
>
> Thanks
>
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Received on Sunday, 24 July 2016 01:02:56 UTC

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