Programmable money represents a historic shift on how we perceive and use money.

Programmable money is money with constraints.

Technically, programmable money is digital currency attached to blockchain-enabled smart contracts. #CBDC

An analogy is food stamps where recipients are given coupons, the equivalent of money, which can be spent only on food — not on alcohol, betting on horses, lottery tickets or anything else.

I could create digital currency that can only be held by credentialed refugees and transferred to credentialed businesses.

“A charity or refugee agency can issue the credential to the refugee. The businesses can be similarly accredited. Then the programmed tokens representing funds can be issued to the refugee and held on his/her phone. The refugee can use them to pay for goods and services from accredited businesses, only. The refugee could also transfer them to other refugees.”

A programmable token could strengthen controls around aid payments, tracking and tracing flows on a national level, using link analysis to uncover fraud and corruption. #CCT

Where are payments going? Why is so much flowing to one place? “That’s the real promise,” said Rosenoer — rooting out the institutional corruption that keeps poor people poor. The developing world needs a tool like this — much more so than the U.S. or Europe “where lots of things are [already] good enough.”

Use case (social):

Programmable tokens can be used to help achieve environmental goals like ridding the world’s oceans of plastic waste. During a coastal cleanup last year of the Manila Bay, for example, local fishermen collected 3 tons of trash — most of it plastic — and were paid for their labor with an Ethereum-based ERC-20 token. Coins.ph (a partner on the ground) helped to convert the crypto into fiat currency. Efforts like these appear to offer an ingenious solution to two seemingly intractable problems: poverty in the developing world and ocean plastic waste.

The future of programmable money – you and I will be able to write code attached directly to our money, dictating its behavior and movements.

Use case (finance): Automated payable/receivable statement

Programmable money could enable global financial transactions that preserve compliance with local laws and regulations, suggested Rosenoer: “Assume that you have a tokenized asset that you want to sell. Let’s call it a long-term debt. The law says that I can only sell it to an accredited investor — one that has a certain amount of net assets and annual income — or I can sell it to a foreign investor.” These are classes of people defined by law. If Rosenoer sells his asset to them, they may have to hold the asset for a period of time if they are subject to U.S. jurisdiction, and then they can only sell to an accredited investor or a foreign investor.

“I can program my token to ensure that whoever holds it meets these requirements,” continued Rosenoer.

This means that I do not have to, for example, create whitelists and blacklists. The token carries the restriction and someone else can issue the credential that meets the requirement(s).

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Pardon my English, I grow up in a Commonwealth country under legacy of British education system watching Hollywood movies.

This is more like a compilation of thoughts, notes and interesting points over past year, with some restructuring and put into a more organized way. There is definitely some hidden gems but you may got to work your own way out as you read through.

Last but not least, I accept crypto rewards if you think this work is beneficial and would like to further support my work besides sharing the links of these info out. I am a supporter of cryptocurrency and walk the talk by accepting token of appreciations in crypto form.

Anyhow, I put it up for free views over Slideshare (as embedded below).

Smart Money

This is the best of times, this is the worst of times.

What we have now is truly borderless, programmable money backed by immutable computer systems based on pure logic & mathematics.

– A Century of Technology Innovation
– Two Monetary Worlds
– Three Phases of Cryptocurrencies

From Corporate Currency to Sovereign Cryptocurrency (CBDC, Central Bank-issued Digital Currency), the fundamentals of AI driven, Blockchain based Cognitive resources management system powered by data: Programmable / Smart Money

After all, money makes the world goes round.

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