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Revision 29 . . (edit) March 19, 2005 11:09 am by RichardP [revert to revision 27]

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What is OpCD

OpCD (Optimaes Currency Description) is a suggested RDF description of an alternative currency or economic network, which is designed to be used as an [[extension]] of a [[FOAF]] file.


FOAF stands for "Friend of a friend". It's an XML format designed to allow people to describe themselves and their connections to friends. The format is open, and likely to become the basis of many software enabled social networks.
The standard allows people to describe many things about themselves including name, sex, psychological type, homepage etc. It's also extensible so that further descriptive attributes may be added.

The OpCD extension is intended to allow people to add information about the currencies they use and the economic networks they belong to. The hope is that those who use alternative and complementary currencies or are members of gift giving networks, will advertise that fact on their websites using this format. This in turn will allow software to use this information.

Some use scenarios :

* John is selling some books second hand via an announcement on an OpCD-aware social networking service. He accepts dollars or up to 50% of the price in IthacaHours? and states this in his FOAF description. When Jane views the ad, this alternative is prominently displayed.

* John sells the books and earns several hours. He now needs to know where he can spend them. This is a simple query on his social network.

* Alice is an artist who will only accept payment in CyberHOURS?. Bill admires her work when he sees it on her web-page. He needs to know where to get some CyberHOURS? and how to send them to her. Her OpCD record contains links to both a bank where he can buy CyberHOURS? with Euros, and a payement enabler that will let him send the CyberHOURS? to Alice.


Remember this draft work-in-progress. All comments are welcome.

OpCD will define the following classes and properties


* Name
: string containing the name of the currency
* Base
: Uri of the "home" of the currency.
* Payment
: Uri of a payment enabler. The payment enabler is a site which allows a payment, using the currency to be made to this person
* Bank
: Uri of a bank. In OpCD a bank is a place where you can get (usually purchase) this currency.
* Market
: A place where you can find things to buy and sell with this currency
* Issuer
: Uri of an authority who issues money (only relevant for fiat money)
* Fiat
: A string which records that this is fiat money issued by an authority
* Backed
: A string which records that this is backed by a commodity
* Scarce
: A string which records that this is scarce, competition producing currency
* Sufficient
: A string which records that this is a sufficient, co-operation producing currency
* Demurrage
: A string which records that this is a demurrage currency (which loses it's value if unused)
* Storage
: A string which records that this is a currency which can be held indefinately

* SpacialLimit?
: A string which records if this currency is limited to be used in a particular environment
* Exchangable
: A string which records whether this currency can be bought and exchanged for another.
* Monitoring
: In an ideal world, someone would be monitoring the use of local, complimentary currencies, compiling statistics and giving a report on their general health. This is the Uri of a place which monitors and produces reports on the currency.[[.]]

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