Fri Aug 16th, 2013 at 04:06:55 AM EST
I suspect some ET'ers will be interested in the work that Martin Hay is doing on what he describes as Chiralkine contracts, the Resolution of Zero and
My instinct is (I am still attempting to entirely grok it, because I don't do abstract) that this is very important work.
It very much seems to tie in with my analysis (Reality-based Economics and the Last Big Thing ) in relation to pervasive confusion and misrepresentation at the heart of modern economics - thanks to two dimensional double-entry book-keeping - between the credit/equity (ownership) and debt relationship
The single entry tally stick is 1-Dimensional: current double-entry accounting is 2-Dimensional: and Martin Hay posits 3-Dimensional (triple entry) accounting.
Ian Grigg - who is pre-eminent in the field of e-payments, crypto and so on - was writing 8 years ago about Triple Entry Book-Keeping. Todd Boyle's netledger was in the same space five years before that, and Satoshi's Bitcoin architecture is very much in this zone.
But I digress.
Martin is essentially pointing out that there are in fact four economic states:
Mine: Not Yours (10);
Yours: Not Mine (01);
Both Mine And Yours (11);
Neither Mine Nor Yours (00).
It's really quite deep: by 'resolving zero' we see that there are two aspects of the Zero state, not a million miles away from two different directions to particle 'spin'.
Anyway, I thought I would introduce Chiralkine concepts to ET'ers for consideration and discussion since I think that 3-D accounting is an important concept. Particularly when we consider the architecture for an emergent next-generation, subject-oriented and people-centric Web 3.0 which may have security and personal control hard-wired into it.
I will invite Martin - whom I recently met at Cumbria University in Lancaster at a conference on community currency - to respond, expand upon and hopefully discuss his ideas.