Programmable money proposal: request for comments

Our friend Marc Fawzi requests feedback on a proposal for monetary reform based on ‘programmable money’.

The Ning forum for responses is here.

Here are the objectives of the project:

At the core of this proposal are these critical objectives:

1. Enable a lending model that rewards the lender without punishing the borrower by rewarding lending with seller credit points that give the lender higher rating among sellers (of goods and services.)

2. Encourage P2P energy production and energy abundance by tying money creation to energy production, such that those who produce energy (from natural, abundant sources like solar and wind) get paid for it while those who consume energy get to benefit from cheap, abundant energy. This way the Central Bank (e.g. Federal Reserve) is replaced by a new kind of utility company (referred to here as Peer Bank.)

3. Provide a multi-dimensional value system for the purchase of goods or services instead of the 1-dimensional value system we have today, which is the numerical cost of goods and services. So that consumers become not just price conscious but more conscious about the other values, e.g. seller’s support for environment, seller’s use of organic ingredients, seller’s credit points (or generosity in lending), etc.”

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