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Update: Five Attributes of Payment

From: Joseph Potvin <jpotvin@opman.ca>
Date: Sun, 31 Aug 2014 13:15:31 -0400
Message-ID: <CAKcXiSoVTWp8YaEePZP5M6ynjgMHTZESXUGb80=AAzgct_ZShA@mail.gmail.com>
To: public-webpaymentsigcharter <public-webpaymentsigcharter@w3.org>, Web Payments CG <public-webpayments@w3.org>
Comment invited...

My paper to the April workshop in Paris focused on three attributes of
payment. http://www.w3.org/2013/10/payments/papers/

Further discussion and research on this topic (including research in
economics and law towards my doctoral dissertation at U Quebec), as well as
consideration of various ideas raised on these lists, has led me to include
five attributes.

Below is a concise (draft) statement of the scope of my dissertation which
lists five attributes of payment that are subject to determination either
by the payees and payers themselves, or by payments intermediaties and
law-makers. The issues raised here are equally relevant to the scope of a
W3C payments specification as they are to the model I'm in the process of
developing as a free/libre/open extension to MASON > Lagom > regiO [1]. The
dissertation work (incl the excerpt below) is licenesed CC-BY 4.0, and all
related software components and dependencies are under various
free/libre/open works (FLOW) licenses.  (What I'm posting here is also
dual-licensed now under the W3C Community Contributor License Agreement.)

I share this for consideration towards the emerging web payments
specification, and of course I invite any feedback, advice and
collaboration towards the development of the modeling extensions, which can
be a useful platform for web payment specification scenarios testing well
beyond the particular questions I am focusing on.

***

"The present research is concerned with the following compound question in
the realm of payments:

*Are **fair and efficient market operations, **and** open market system
integrity, **enhanced or eroded **whe**n **project managers **are* *free to
exercise choice in **specifying* *through **their contracts, **all**
attributes of payment? *

The scope of this research project is to develop an analytical structure
and some extensions to a formal model to test this question in relation to five
attributes of payment. Each of the five are identified (underline) and
illustrated
with sample considerations as follows:

   1.

   *S**cal**ar **quantity* (e.g. 10.99; 0.0001099—*Can the parties *
   *specify* *micro payments **to **their** chosen** number of decimal
   places**?*) *Can **contracting **parties **to **implement **algorithmic
   pricing **to their chosen specifications**? *;
   2.

   *U**nit-of-account* (e.g. $ £ € ¥ etc.—*Are contracting parties
free to **price
   and pay in** their **unit**s* *of choice? **Can the unit** of payment**
   be **one that is self-defined** by the contracting parties, and/or **can
   it be from a non-traditional provider**?**)*;
   3.

   *V**alue-in-exchange benchmark* (e.g. WM Reuters Spot Exchange Index;
   Purchasing Power Parity Index; Commodity Index; Earth Reserve Index, etc.—
   *Can** contracting parties benchmark **the scalar quantity of **payment
   to **any** market factors they deem to be relevant **to the **duration**
   and **object** of the contract**?*);
   4.

   *Transaction** depositories* (eg physical wallet; digital wallet;
   digital bank account, etc.—*Do contracting parties have the ability to
   decide **upon and control **the origin and destination nodes for their
   payments?*); and,
   5.

   *M**edium-of-exchange* (e.g. debit card, credit card, giro, cash, etc.—*Are
   media-of-exchange options documented effectively to enable informed user
   choice? Do contracting parties have **practical **access to choice **amongst
   **medi**a**-of-exchange?*)"


Source: Potvin, J. 2014 (Draft, unpub.) Free/Libre/Open World Market
Payment: Project Arrangements and Their Emergent Effects. Draft doctoral
disseration, Département des sciences administratives, Université du
Québec. Email: academic—potj09@uqo.ca; professional—jpotvin@opman.ca

[1]
MASON http://cs.gmu.edu/~eclab/projects/mason/manual.pdf
Lagom
http://diva-model.net/fileadmin/ecf-documents/publications/ecf-working-papers/mandel-fuerst-lass-meissner-jaeger__ecf-working-paper_2009-01.pdf
regiO http://www.sciencedirect.com/science/article/pii/S1364815213000029


-- 
Joseph Potvin
Operations Manager | Gestionnaire des opérations
The Opman Company | La compagnie Opman
jpotvin@opman.ca
Mobile: 819-593-5983
Received on Sunday, 31 August 2014 17:16:20 UTC

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