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Re: Some notes on price stabilization indexing

From: Jeffrey Cliff <jeffrey.cliff@gmail.com>
Date: Thu, 9 Jan 2014 10:56:57 -0500
Message-ID: <CAAR2Wu9Xou9cFi0QrcFUiKyauaYeN=bz+EAURgLChkVb3=Q-xg@mail.gmail.com>
To: Fabio Barone <holon.earth@gmail.com>
Cc: Joseph Potvin <jpotvin@opman.ca>, Web Payments CG <public-webpayments@w3.org>
I know it was mentioned before, but Ripple effectively ought to be an
index in this context, given a choice of a target address, and the
address of the user coming to make a payment.

On 23/12/2013, Fabio Barone <holon.earth@gmail.com> wrote:
> This is a much more fleshed out and realistic (in that more potential for
> acceptance by businesses) proposal
> than an idea of an "open wallet" I had some time ago, which was essentially
> about
> publishing the currencies one would be willing to accept and let the
> parties negotiate transactions.
> 2013/12/19 Joseph Potvin <jpotvin@opman.ca>
>> This is just a quick update on a topic that I think is interesting to
>> just
>> a few on this list.
>> In preparation for the March meeting in Paris I'll be writing some
>> use-case examples, scenarios in which algorithmic pricing with a vendor's
>> chosen index would be preferred.  Please contact me if you would like to
>> collaborate this topic.
>> The function use of price indices in web-payments can be summed up as
>> follows:
>> "Using any standards-compliant e-commerce software, a vendor would select
>> a reference currency they prefer to use for base price management, and
>> identify any other currencies they would be equally willing to accepted
>> in
>> payment. They can also select one of the available price indexing
>> services,
>> which could be a currency exchange rate, or another type of index more
>> relevant to the scope and dynamics of their particular business that
>> would
>> enable greater price stability, variability with key input prices, or
>> some
>> other criterion.
>> When a vendor selects a given index service, their e-commerce software
>> would automatically query its data feed in order to interpret their base
>> price for each good or service from its publication date, to express the
>> same real value in each of the other currencies that the vendor has
>> identified as acceptable for payment. Price re-calibrations occur on an
>> established schedule through time, and each update is digitally signed by
>> the vendor's e-commerce software.
>> A customer browsing the vendor's e-commerce site chooses a payment
>> currency that s/he has available to pay, from amongst those identified as
>> acceptable to the vendor. (This would be like choosing a mutually
>> acceptable language on a multilingual website). The vendor's site then
>> displays all prices in that currency to the purchaser.
>> When the customer activates a purchase, the vendor's shopping cart
>> function sends the digitally-signed interpreted price expressed in the
>> buyer's chosen currency to the purchaser's own payments processor, local
>> or
>> external. Once the purchaser's available funds are confirmed, the
>> transaction is processed at both ends.
>> ***
>> Some indices being worked on as time permits:
>> A useful ready-to-go index for any global retail vendor to consider would
>> be the "World Price Index":
>> http://www.worldeconomics.com/WorldPriceIndex/WPI.efp
>> Recently I made arrangements with EF Publishing for direct server queries
>> to their WPI for the W3C WebPayments work.
>> With the founder of http://www.centralbanking.com/ I've been discussing
>> the utility and design of an index based on total market capitalization,
>> which can be constructed from data at this source:
>> http://www.world-exchanges.org/statistics/monthly-query-tool
>> Precise methodology for the index is not yet worked out.
>> The Earth Reserve Index that I and some colleagues are working on (the
>> details of which are admittedly tangential to this list) received some
>> useful off-list feedback during the past week. I've posted an edited
>> update
>> to the Earth Reserve Index concept-of-operations 2-pager here:
>> http://www.projectmanagementhotel.com/attachments/6030/ERindex_2page_19dec2013aPDF.pdf
>> http://www.projectmanagementhotel.com/documents/449
>> Joseph Potvin
>> Operations Manager | Gestionnaire des opérations
>> The Opman Company | La compagnie Opman
>> http://www.projectmanagementhotel.com/projects/opman-portfolio
>> jpotvin@opman.ca
>> Mobile: 819-593-5983
>> LinkedIn (Google short URL): http://goo.gl/Ssp56
>> <http://goo.gl/Ssp56>

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Received on Thursday, 9 January 2014 15:57:26 UTC

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