IOTA: Difference between revisions
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Imagine we purchase land and tools to create | |||
small-scale Villages which are then sovereign | small-scale Villages which are then sovereign | ||
governments in their own right. | governments in their own right. | ||
Here's a sketch | Here's a sketch for a currency that is backed | ||
by the Means of Production and Promises to Labor | |||
from Workers or from guilds or unions of sorts. | |||
---- | ---- | ||
The IOTA, the Intra-Owner Trade Agreement is backed by: | |||
the Intra-Owner Trade Agreement | |||
- Commitments of Sources: These is the physical assets | - Commitments of Sources: These is the physical assets | ||
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of goals that need to be accomplished within the Village. | of goals that need to be accomplished within the Village. | ||
The IOTA is invalid Unless both of | The IOTA is invalid Unless both of those conditions are met. | ||
-- | -- | ||
The IOTA enforces the following constraints on | The IOTA enforces the following constraints on Trade: | ||
- Product is Investor's Return: The Product is not sold*, | - Product is Investor's Return: The Product is not sold*, |
Revision as of 04:30, 24 September 2011
This is a deposit-based, *insuring*, PropertyLeft, Title+Ticket system:
Imagine we purchase land and tools to create small-scale Villages which are then sovereign governments in their own right. Here's a sketch for a currency that is backed by the Means of Production and Promises to Labor from Workers or from guilds or unions of sorts. ---- The IOTA, the Intra-Owner Trade Agreement is backed by: - Commitments of Sources: These is the physical assets needed to produce food and shelter for those Villagers. - Commitments of Skills: These are the various kinds of goals that need to be accomplished within the Village. The IOTA is invalid Unless both of those conditions are met. -- The IOTA enforces the following constraints on Trade: - Product is Investor's Return: The Product is not sold*, because each Villager already owns the exact** amount of Product from their ownership in Sources. * Surplus can be sold to those who own insufficient Sources. ** Predictions are never exact, but we can 'hover' nearby. Most Villagers will 'overcommit' as Insurance against low production seasons. - Profit is Payer Investment: When Surplus is sold to non- owners, the Profit must be treated as an Investment from that Payer - so that latecomers gain as much control as they are willing to Pay, and ultimately Work for. ----