27 The Ability For Money To Be Openly Programmed

27 The Ability For Money To Be Openly Programmed

Here we will talk about the ability for money to receive instructions and execute them. Throughout time we have done things with money, but have always required a ‘person’ to execute our will on the money. Counter party risk
Money Type Score (5) Why
Debt 1 A debt cannot be programmed in itself unless placed in a digital form.
Commodities /Items 1 A commodity cannot be programmed in itself. You can attached a synthetic representation of the item, but the item itself cannot be programmed.
Gold /Silver 1 Gold and Silver cannot be programmed in itself. You can attached a synthetic representation of the item, but the item itself cannot be programmed.
Fiat 1 A commodity cannot be programmed in itself. You can write programs that would perform certain transaction on the databases of banks and other money managers, and that would allow the digital form of money to be ‘programmed’, but that system is not inherent within the ‘fiat system’.
Bitcoin 5 Bitcoin itself has the ability to run ‘scripts’ which are mini-instructions, that can allow the money to do things automatically. This runs inherently on the Bitcoin blockchain and is part of what makes Bitcoin what it is. With this, further can be done on top of the Bitcoin network that would run natively without need for third party permission or intervention, like the lightning network.

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