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Abundant Stable Transactions Anyplace Anytime Anyone
Requirements for Passive BIBO Stable Currency System
Editor Marc Gauvin
All Rights Reserved
Right to Copy and Reproduce in its entirety is expressly granted providing full attribution is given.
Although it would seem that the mere utterance of “Passive BIBO (Bounded Input Bounded Output) Stable Currency System” would imply in and of itself a complete set of requirements that should be met by any currency system that sports such a title, it is nonetheless worthwhile to give a name to those requirements and spell them out one by one. This document should be contrasted from time to time with the Passive BIBO Currency Specification’s “Corollaries” (logical consequence) to the “Rules” set out here , that indicate a set of requirements that are directly satisfied by those rules.
It is important to note that the process of defining requirements for a Passive BIBO Stable currency is very important because it carves a logical scope of any currency's normative requirements. This can be particularly useful when criteria such as "local" and "complementary" are considered, as spelling out logical requirements can prove particularly revealing regarding such lables. A system may not need to be complementary and interoperability between any number of local implementations need not imply any loss of local autonomy and identity.
Definitions for the “ASTA3” acronym
Note: Please refer to the Passive BIBO Currency Specification document for further terms and definitions that for convenience and to alert the reader to specific meanings will always be capitalised as will be the new terms defined in this document.
Abundant: Currency Units shall be available to any compliant Passive BIBO Transaction.
Stable: The Currency System shall be stable according to the scientific definition of BIBO stability as applied to money systems to find out more about BIBO visit: http://cnx.org/content/m34515/latest/
Transaction: The process by which Wealth is transferred and Accounted for in @ (Passive BIBO Currency unit symbol) resulting in a Credit to the provider(s) of Wealth and Debit of equal magnitude to the receiver(s) of Wealth.
Anyplace: Access to the Transaction unit is automatically available for any Transaction where ever the parties may be geographically located.
Anytime: Access to the Transaction unit is automatically available for any Transaction whenever the parties desire.
Anyone: Access to the Transaction unit is automatically available for any Transaction to any human being or group of humans.
1. The Currency shall be Abundant:
A Passive BIBO Currency is an abstract unit of measure of value with no necessary or particular physical properties and therefore has no physical limit i.e. it is absolutely abundant and units are generated solely by transactions of Wealth.
2. The Currency shall be Stable:
A Passive BIBO Currency is a Passive Stable System because both Input and Output have bounded values and Output never exceeds Input.
The Stable Currency Unit Theorem:
"If every Transaction is Passive BIBO Stable and all money created is necessarily a product of such Stable Transactions, then, all such units will necessarily maintain a Bounded ratio with all system inputs to those Transactions and therefore the units also will be stable by definition!" - Marc Gauvin and Sergio Dominguez - 2011 -
Also, magnitude of @ Debits at all times is equal to that of @ Credits and the sum of all existing Balances equals zero at all times.
3. The Currency shall serve Transactions not determine them:
A BIBO-Currency System is inert as it has no effect on the creation of Wealth, i.e. its use cannot deter or provoke the creation of Wealth, rather it is the creation of wealth and the free spontaneous desire to trade that wealth that generates @ unit Debits and Credits.
4. Transactions shall be free of coercion by virtue of monopoly of units:
No side of any Transaction may derive an advantage over the other by virtue of availability of @. No Member can exercise control over access or use of @ by other Members. Both sides of any Transaction have equal and opposite influence over Price in terms of availability of the @. All Transactions in @ are fully voluntary and free of any coercion.
5. Units shall represent not determine the value of Wealth in Transactions:
Creation and transfer of Wealth does not depend on @ but rather use of @ depends on previous existence of Wealth. Therefore, it is the value that determines the quantity of units not the units that deterime the value.
6. Units shall be accessible to anyone or any entity:
Anyone can open an account with zero balance.
7. Units shall be accessible to any location:
Any Passive BIBO transaction that can be recorded is valid.
8. Units shall not be subject to counterfeiting or falsification:
Only @s resulting from identifiable transactions by authenticated users are recognised.