Formaleuros, Formalbitcoins, and Virtual Monies - Computer Science > Computers and SocietyReport as inadecuate

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Abstract: Formalist positions towards money are considered from a perspective of formalmethods in computing. The Formaleuro FEUR as a dimension for monetaryquantities is proposed as well as the Formalbitcoin FBTC which represents anitem ready for circulation in a model of informational money.An attempt is made to understand the concept of money from scratch. In orderto provide a definition of money the need is felt to make use of a tailoredtheory of definition. To that end a theory of imaginative definitions ispresented and its implications for definitions of money are sketched.It is argued that a theory of money may be dependent on the role of itsholder. A survey of some roles is given, with the so-called subordinateadministrative role SAR in a central position.The concepts of virtual memory and virtual machine are taken as the point ofdeparture for a definition of the notion of virtual money. It is argued thatfrom the perspective of a component division of a large organization ORGits local financial system LFS provides a virtual money vmLFS, ORG whichmay well fail to meet the most common general and acknowledged moneynesscriteria. Inverse moneyness preference is coined as phrase to assert thetendency of top-management of ORG to make its virtual money deviate from thesecriteria.

Author: Jan A. Bergstra


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