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First, let's try to define what the software will do
- currency : name of the money used within a community (ex of currency = $ or € or £)
- member: base of money creation and exchange in the community
- money: the name of a finite quantity members receive and exchange
- coin: amount of money which can not be subdivided
- transaction: exchange of some amount of currency between two members
- publication: making available to the public transactions between members
- verification: validation that a transaction only contains coins owned by the author
- supervision: capacity to enumerate members and coins
- direction: universal dividend % and rules of membership
To become a member, one needs a PGP key with an UID called "UDID" which should contain his full name, date and place of birth.
This is to ensure member uniqueness.
To remain member, one needs a minimum of N valid signatures (from existing members) with a limited time expiration. So he needs a renewal of valid signatures in a limited period of time (ex : maximum time of a valid signatures is 2 years old).
To stay as a member, one needs a level of signature confidence (defined in the community rules) as calculated in the web of trust.
A member can write a list of coins he wants to give to someone else.
This list must be signed using the author PGP private key.
This list should also contain the recipient identification.
This transaction can be sent to the recipient using any protocol available.
The transaction recipient should publish it so that every body will know he now owns the listed coins.
To validate that coins listed in a transaction were actually owned by the transaction author.
The publication mechanism must only allow publishing a transaction listing coins owned by the transaction author.
At any time, we can list:
- coins' owners
A member can list his coins and transactions
Currency creators will set the initial % of DU and rules of membership.
They should also define the mechanisms used to modify them.