The idea is to have the U.S. Treasury deploy a payment platform where the transaction data serves as the source for measuring the cost of capital. Instead of the cost of credit determining the cost of capital, the reference for the system's risk-free rate in systemaccounting is the cost of equity. - @Mxfactorial
Public demonstration of the following use cases through a systemaccounting function:
SELECT SUM(transaction_amount) FROM transaction_table WHERE transaction_time='YYYY-MM-DD hh:mm:ss';maximizes & protects for individuals a scientific standard the publicly-measured quarterly or annual 'GDP' violates- establishing the conditions studied by combinatorial game theory through physics & data science ends public dependency on such resources as credit ratings, quarterly filings, the Consumer Price Index (CPI), and the Federal Reserve Economic Data (FRED) platform
- financial value is a bivector-valued function of buyers & sellers swapping ownership-coordinates of goods & services they measure to have dimension throughout recursively-defined, curl-standardized time-coordinates (t, curl-x, curl-y, curl-z)
- disambiguating delivered value from expected value by enforcing a law of conservation of value & liability (information) eliminates the possibility of socializing the default risk of any individual, firm, or industry (difficult to avoid when an industry is chartered, protected, and primarily depended upon by a government requiring election assistance)
- producing a scientific measure of the equilibrium price of capital removes the ability of a central authority to manipulate the price of credit
- contract fulfillment automation
- data visualization
This open-source project is intended to exploit the software engineering community's familiarity with data science to rapidly develop their capacity to describe an economy from the viewpoint of a physicist. Software engineers may be expediently converted into PhD-level economic experts because they come equipped with the technology to efficiently approach the subject in a purely scientific manner. For example, one may avoid all the trivial complexities that currently plague the fields of economics & finance by delivering the following requirement in Feature #2 of the project, "A 4D null vector of risk-free value is measured when the db_time AND cr_time properties of a transaction record receive datetime values from a pair of debiting & crediting users." Identifying for engineers how physical value (x, y, z) is transmitted & received with respect to time (t) between sellers (+1/2,−π,−π,−π) and buyers (−1/2,+π,+π,+π) enables them to teach the public how physical value is therefore added with respect to time, a.k.a. the time-value of money, the cost of money, the cost or price of capital, etc. Adding to the project's list of features is designed to foster enough interaction between engineers and the data model that a movement to eliminate nothing but public ignorance becomes generally accepted as possible only when it's precipitated by activism pursued—not in the streets where slogans, bottles, and rocks are blindly hurled at others who are equally frustrated with their economy, but on knowledge's frontier where math, science, and technology are used as tools to empower mankind's movement in the cloud.
- Supporters preferring to contribute financial resources may do so from the Financial Support page. To contribute engineering resources, download & install Node.js.
- If you're not familiar with Node.js, or don't know how to code, begin the freecodecamp.com curriculum.
- Learn to deploy a Node.js web application by completing the Google App Engine 'Hello World!' tutorial.
- Learn to add features to your newly-deployed application by completing the Google App Engine 'Bookshelf App' tutorial.
- Now that your development & production environments are set up, you may follow this project's Code Delivery Workflow.
Details as of 6/13/2016:
- Production: mxfactorial.org
- SSL: mxfactorial.appspot.com
- Public drive
- Node.js v4.4.3
- npm v3.5.1
- Google Cloud SDK
- Datastore
Roadmap:
- Set up managed application & persistence layer
- Produce requirements & code for:
- data models
- publicly-accessible endpoints
- mobile web client for transactions (write)
- mobile-enabled web client for visualizing economic activity (read) through the Data Layer feature of the Google Maps Javascript API
Note: Both transaction and visualization clients will be strictly served by publicly-accessible endpoints to demonstrate for the U.S. Treasury that with enough security, anyone may build an app that submits transaction data to the public ledger, thereby eliminating "banks" from the value transmission equation.