Upgrading the Kernel of the Economy: Vectorial and Tensorial Multi-basket currency

Money is not just a depositary of value, but a depositary of information about trust in evaluating past and future human action. However, the core assumption regarding the transferability, materiality, emission and tracking of currency is a concept over 1400 year old, dating from the Chinese Tang Dynasty (A.D. 618-907). As such, classical currency carry just one aggregated value or unit of measurement

The output of each transaction creates two balancing accounting records, each the negative of the other, and both describing the amount of variation of each of the coins/tokens in the basket (currency, energy, sentient time, material input, material waste).

A vector coin (or more generally, a tensor coin) is one that allows each transaction to represent several balancing scalar values, including a basket of fiat currencies, a basket of crypto-currencies, a measurement of environmental impact (material consumption and waste, energy intake, heat waste), a measure of computational impact (number of operations performed, number of bits stored, number of bits trafficked) and a measure of human experience (time spent working, time spent waiting).

Minting coin

Most production of coin (minting), as a result of a real-world process, will need to be witness (at the scale of manifestation of the event) by an allegedly impartial entity (even a machine, such as the POS machine) and later co-audited by other impartial entities at larger scales (eg. accounting department, IRS, non-profit organization, oversight bodies).

  • Proof of reduction/production
  • Cryptographically-verified/enforced metering

Proposed sections of vector coin (coin fragments or coin sections)

NameDescription
TransparencyVisibility on all high-level government transactions, on an eventually public (cryptographically guaranteed for 6 months) blockchain.
EnergyJoules input or output for delivering a service instance or a product instance.
Sentient Timenumber of working seconds spent focusing by a human being, based on proof of focus solution;
Physical Transport number of kilometers travelled by one kilogram of (physical) payload;
Physical StorageNumber of kilograms stored for a period of a month.
Physical ProcessingNumber of kilograms transformed from one state to another (using a standardized process).
Physical WasteNumber of kilograms of waste output by a process
Digital Transport CoinNumber of GB transferred between two identified nodes.
Digital Storage Number of bits stored.
Digital Processing (silicon time) Number of floating point operations (or other machine operations)
Privacy CoinNumber of PIIR (personal identifiable information request), as functions computed over piece of personal data.

Using mapping of measurable targets as politico-economical computable glue.

VectorCoin additivity, counting, projections and build-in aggregate financial indexes

Rank priorities by piecewise or overall (public weights) weighted-average of vector coin components, including material, energy, time and sentient-time

The vector is projectible on any subset of its components, leaving an unknown, unknowable, past observable/presently unobservable state.

Grounding the world economy into cryptocurrencies with regulated real-world meaning.

TransparencyCoin – visibility on all high-level government transactions, on an eventually public (cryptographically guaranteed for 6 months) blockchain.

EnergyCoin – Joules output -> hint to investment banking: bet on energy storage solutions; hint to IMF: relaunch failing economies by major energy infrastructure projects;

SentientCoin – number of working seconds spent focusing by a human being; sight – proof of focus;

TransportCoin – number of kilometers travelled by one kilogram of payload;

DigitalTransportCoin – number of GB transferred in a second between two identified nodes, with a precise geographic definition

WasteCoin – number of kilograms of waste output by a process

PrivacyCoin – number of PIIRs (computable personal identifiable information requests)

Most production of coin (minting), as a result of a real-world process, will need to be witness (at the scale of manifestation of the event) by an allegedly impartial entity (even a machine, such as the POS machine) and later co-audited by other impartial entities at larger scales (eg. accounting department, IRS, non-profit organization, oversight bodies).

The output of each transaction creates two balancing accounting records, each the negative of the other, and both describing the amount of variation of each of the coins (energy, sentient, waste, transport). Moreover, certain types of businesses may be required to have their line of business tagged as “source of funds” for a certain number of transactions, so as to literally be able to know how much on one’s money is blood money.

VectorCoin additivity, counting, projections and build-in aggregate financial indexes

Rank priorities by piecewise or overall (public weights) weighted-average of vector coin components, including material, energy, time and sentient-time

The vector is projectible on any subset of its components, leaving an unknown, unknowable, past observable/presently unobservable state

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