Sunday, May 25, 2014

Distributed transactions

A common language/protocol creates efficiency to allow distributing all components of a transaction.  Trust is distributed.  Value translation is distributed.  Every transaction is composed of a value translation and a temporarily trusted 3rd party to assure the value is transferred.

A common language allows barter and allows currency transactions.  The language also describes Time.  All transactions take time, so the current reporting of transactions in a receipt does not accurately describe the transaction and how long it took for each side to deliver on their end of the bargain.  Finance-types should understand that.

A common language allows individual choice in every transaction.  One of the derivatives of a common language is a common peer-to-peer marketplace/exchange described below.

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