- From: Javier Romero <elmurci@gmail.com>
- Date: Sun, 24 Jul 2016 21:22:38 +0100
- To: Andrew Bransford Brown <andrewbb@gmail.com>
- Cc: "public-interledger@w3.org" <public-interledger@w3.org>
- Message-ID: <CAHmaGMv9bUjiKREmR98qfyNdDAbk8S8Huoez8r4GpmGJA10_XQ@mail.gmail.com>
Thanks for your responses Andrew! My question was more if rather than just failing the transaction other alternatives had been explored when a legacy ledger doesn't have the capability of *holding/authorise temporarily* funds and just admits confirmed transactions... I guess a plugin sitting on top of the ledger could decide depending on the situation: - If less than a certain value, accept the transaction even if it leaves a negative balance - Use a 3rd party escrow for high values - Just fail the transaction if needed if conditions are not met. - Write a debit movement on the way out and then a credit movement if the payment fails on the way back. - ... On 24 July 2016 at 15:30, Andrew Bransford Brown <andrewbb@gmail.com> wrote: > The "Deliver" event would not occur, of course. You could write an event > to the "transaction stack": > CommerceID EventType Description > Andrew Deliver-Failure "Insufficient funds" > > The API could include a GetContractStatus(transactionID) that would return > ""Undelivered", "Open", or "Partial delivery", or similar. It would be up > to the application to determine who ships/delivers first. > > > Andrew B. Brown > 10723 River Plantation Drive > Austin, Texas 78747 > (512) 947-8282 > http://linkedin.com/in/keihatsu > > > On Sun, Jul 24, 2016 at 5:51 AM, Javier Romero <elmurci@gmail.com> wrote: > >> 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 >>>> >>>> **********************DISCLAIMER***************** >>>> This message is private and confidential and it is intended exclusively >>>> for the addressee. 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Received on Sunday, 24 July 2016 20:23:39 UTC