Promises as a basis for payments
From W3C Wiki
Andrew Bransford Brown asks:
- Can all financial transactions can be described as:
One promise for another. Did each side deliver?
Abbreviated example of a banking protocol:
transaction promise 1USD endpromise promise 1 pack of gum endpromise endtransaction
- Why the word "promise"? Because "promise" connotes time. There is no such thing as an "instantaneous transaction".
- Further details in Promise Language