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Re: Currency Mints (Re: The UN Millenium declaration)

From: Manu Sporny <msporny@digitalbazaar.com>
Date: Tue, 06 Dec 2011 00:13:50 -0500
Message-ID: <4EDDA48E.80507@digitalbazaar.com>
To: Web Payments <public-webpayments@w3.org>
On 12/05/2011 08:53 AM, Melvin Carvalho wrote:
> On 5 December 2011 05:31, Manu Sporny<msporny@digitalbazaar.com>
> wrote:
>> The idea here is that the PaySwarm system should allow anybody to
>> create an alternative currency with very little effort. Even if it
>> is a currency that you plan to exchange with only a few people.
>> Currencies would be identified by URLs and would be added to the
>> "currency" field in all transactions. For example, here is a
>> currency used in a transaction that expresses "hours of labor":
> +1 to mints and currency as a URI
> Are you going to have 3 letter ISO codes as well?

Yes... thanks to our data model we can express currencies as 3-letter
ISO codes /or/ IRIs. Basically, any currency that has an ISO-4217 code
should use it, otherwise - use a dereference-able IRI. See the
"currency" vocabulary term for more info:


> I'm thinking about aligning our IOU vocab with the drupal LETS work
> by matthew slater:
> payer (URI) payee (URI) currency (URI) quantity float createdtime
> description state
> thoughts?

Looks very close to the concept of a Transfer (and how it is expressed)
in PaySwarm:


You may also want to look at the Transaction concept:


The vocabulary mapping from LETs to PaySwarm is:

payer       -> com:source
payee       -> com:destination
currency    -> com:currency
quantity    -> com:amount
createdtime -> com:date (we may end up using dc:created)
description -> rdfs:comment
state       -> NO MAPPING

-- manu

Manu Sporny (skype: msporny, twitter: manusporny)
Founder/CEO - Digital Bazaar, Inc.
blog: The Need for Data-Driven Standards
Received on Tuesday, 6 December 2011 05:14:30 UTC

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