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Re: holding of funds

From: Javier Romero <elmurci@gmail.com>
Date: Sun, 24 Jul 2016 11:51:16 +0100
Message-ID: <CAHmaGMuEDQP6afGJCrndB8E0j5Z=JsVZZPBKD_ze-jr0db3riw@mail.gmail.com>
To: Andrew Bransford Brown <andrewbb@gmail.com>
Cc: "Romero, Javier (ISBANUK)" <Javier.RomeroColomo@isbanuk.com>, "public-interledger@w3.org" <public-interledger@w3.org>
Thanks Andrew,

But you would still need some kind of funds holding?
What would happen if, in your example, Andrew doesn't have enough balance
of funds at the time the transaction is executed?

On 24 July 2016 at 02:02, Andrew Bransford Brown <andrewbb@gmail.com> wrote:

> 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 10:59:31 UTC

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