Towards Object-oriented eMoney as part of a “distributed virtual currency”[8]

High efficacy, low bureaucracy, smarter ‘plug-and-play’ monetary solutions for

organizations

(c) Nicholas Robinson, M.Des, IEEE

Commercial Business Proposal

So what’s gone wrong with Currencies and how might we fix them?

• Problems– Organizational culture– Money and Ethics don’t mix well!– Money doesn’t grow on trees,

only the economy does!• Currencies are flat (fiat) and blind [7][8]• Centralised but still localised

• The centralised State role is fading.

• Solutions– Financial Ecosystems– O-O Money– Reinvent our currencies

• Paradigm shift • more distributed, global

‘Object-Oriented’ Currencies Wealth := ∑ owned ecurrency objects (classes + data +

methods)

•Plug-and-play Cashless Financial Ecosystems•Local Exchange Trading•Pop-up Currencies with Object-Oriented Money•wealth := health, savings, profit, quality of life, quantity of money, happiness, security, savings, freedom, liberty, respect, love, power, compassion (charity as a class), right to self-determination (methods of taxation, savings, donating objects as classes + data) – the list goes on ..

The Problem

• Plain Old Money POM is vulnerable to misappropriation, corruption and mismanagement

• POM generates more transactions than the service to speed-up trade in the real economy it was set-up to provide. It is

• POM is difficult to keep secure• POM has become a victim of its own success! – It’s become ubiquitous

• too easy to use!– Requires a lot of expensive administrative overhead

Design for a distributed online virtual local trading system

• Rapid automated roll-out• Self-deploying currency system– Plastic card-operated ‘cashless’ operation– DNA Systems Architecture– Fully-automated Stock Exchange– Cashless economy– Deploys “contactless EPOS technologies” like

ApplePay

O-O Money• Object-Oriented O-O Money

– Self organizing currency system• Eliminates potential for corruption• ‘glocal’ “trade-not-aid” solutions for developing economies

– Deployed rapidly in an economy • Facilitating and enabling pop-up enterprises and market places• Help to start growing a poor developing economy• Applicable to the virtual (online) economy• Transferable to trading directly in the real-world economy

– Free from intermediary currency• Non-transferable ‘local’ micro-currencies• Distributed setup

– host on networked mobile and tablet platform

O-O Money - 2

• Deploys distributed object-oriented programming OOP for networked operating systems – Distributed component object model DCOM– Facilitates digital collaboration

– Distributed manufacturing and production– Can be hosted on and alongside existing ATM infrastructure– Trasferable to smart devices e.g. ApplePay and Wireless or

contactless card processing

O-O Money - continued

• Internet of Things – self-embedding O-O currency system

• ‘Plug and play’ exchange-trading intranet• Extensible via bridges and routers

• Non-routable, secure ‘local’ transaction processing– Facilitates ethical local exchange trading– local network I.P. Currency denomination addresses– Extensible to larger distributed organizations and regions– Deploys Bitcoin-like secure GUIDs

Overview of OOP comprises: - Classes, Data and Methods

Programming “Objects” at their simplest comprise “Classes” as data containers of empty structures (top left) and instances of classes as objects of filled or populated classes as data structures (top, right) as “Instantiated classes” or objects.Such objects also contain public and private “Methods”, including an “interaction interface” e.g. Graphical User Interface GUI to manage events (bottom right)

OOP: “many-to-many” data set relationships of Owners, ATMs and Credit Card Systems

• “Chip + PIN” = Public + Private KeyÞ Security Access Token issuedÞ Security maintained end to

end over public telephone networks WANs and LANs

The ‘key’ (above), ‘lock’ (right), ‘contents’ and ‘safe’ functions are adequately described by objects, classes, data, events and methods

(C) Nicholas Robinson, Beverley, UK. Mob: +44 (0) 7857 453 299

Pop Quiz

• Q. How many object-oriented programmers does it take to change a light bulb?

• A. None – as it has its’ own “change method” built in!• Q. Is plain old money POM (cash) flat?• A. Yes within a common centralised currency area• Q. Does an electronic currency need to be flat?• A. No, not in a vibrant, sustainable, growing,

distributed, diversified and globalised economy it is argued

References• [1] Oracle, Java, “OOP Principles”,

– https://docs.oracle.com/javase/tutorial/java/concepts/object.html• [2] CeDEM15, Conference for e-Democracy and Open Government,

– May 2015, Danube University Krems, Austria, ISBN 978-3-902505-69-9• [3] Ferguson, Niall, 2008, 2009

– “The Ascent of Money”, ISBN 978-0-141-03548-2• “OOP Events Methods and Classes in C#”,

– http://www.codeguru.com/csharp/csharp/cs_syntax/anandctutorials/article.php/c5829/Understanding-Classes-Methods-and-Properties-in-C.htm

• [4] Eichweber, Gerhard, MA, General Counsel, Switzerland,– “Sustainable Business Development And Economic Growth Under Scenarios of Economic Slowdowns”

gerhard.eichweber@silvaplan.com• [5] Microsoft, 1998 “What is Transaction Processing?”• [6] Artificial Ethics, Microsoft Visions of the Future Competition, Runner-up Entrant,

London Science Museum, May, 2008• [7] Virtual Currencies in http://www.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf• [8] Christie Lagarde, IMF, 2015

https://ripple.com/insights/imf-at-davos-distributed-ledger-technology-is-extremely-beneficial/

• [9] https://en.wikipedia.org/wiki/Shinkansen