money
Let an agent handle money through currency, amount, holder and the rules that govern it, with any movement requiring the holder's explicit authorization and human involvement, and without giving personalised financial advice.
Bundle → Layer → Finding → Questions Filled
4 bundles · 8 layers · 8 findings · 16 questions
Form and currency What money and which currency.
Currency
Currency and code.
Currency identified
The currency and its code.
- In which currency is this amount, by ISO 4217 code? definition
- Is conversion needed, at which rate and date? measurement
Form
Cash, deposit, e-money.
Form of money
The form it takes.
- In what form is the money held? definition
- What protection applies to that form, such as deposit insurance? boundary
Value What it buys.
Inflation
Change in purchasing power.
Price index
The index used to adjust.
- Which price index adjusts this amount over time? measurement
- What was its purchasing power at the relevant date? measurement
Exchange rates
Conversion between currencies.
Rate source
The rate and its source.
- Which exchange rate applies, from which source and time? provenance
- What fees affect the effective rate? measurement
Rules Law governing money.
Legal tender
What must be accepted.
Legal tender rules
Which forms are legal tender.
- Which forms are legal tender here? definition
- Can a business refuse cash? boundary
Anti-money-laundering
Reporting and checks.
AML obligations
The checks and reporting duties.
- Which reporting thresholds and checks apply? boundary
- What must an agent never help do? boundary
Authenticity and safety Real money, safely held.
Counterfeits
Checking notes and coins.
Security features
How to check authenticity.
- How can this note be checked for authenticity? action
- What should be done with a suspected counterfeit? action
Scams
Fraud targeting money.
Fraud signals
Signals of fraud.
- Does this request show signs of a scam? boundary
- Who should be contacted? action
Classifiers Filled
- Family
- Thing Registry
- Category
- Society, people and institutions
- Entry kind
- noun.possession
- Plane
- SOC
- Domain
- SOC.ECO
- Facets: substance
- social
- Facets: origin
- conceptual
- Facets: agency
- inert
- Facets: mobility
- not-applicable
- Facets: scale
- not-applicable
- Facets: affordances
- observable
- Other names and narrower kinds
- appropriation, pork barrel, pork, fund, monetary fund, mutual fund, exchange traded fund, ETF, index fund, revolving fund, sinking fund, savings
What it is Filled
Anything generally accepted as a medium of exchange, a unit of account and a store of value, most commonly the currency issued or recognised by a state as legal tender, together with bank deposits.
Why it exists Filled
Let an agent handle money through currency, amount, holder and the rules that govern it, with any movement requiring the holder's explicit authorization and human involvement, and without giving personalised financial advice.
Distinguishing features Filled
- Legal tender status is defined by law for particular forms
- Most money exists as bank deposits, not cash
- Value is relative and changes with inflation and exchange rates
- Crypto-assets are not legal tender in most jurisdictions
What robots and AI may and may not do Filled
Must not
- Help counterfeit currency or launder money.
- Move or spend a person's money without their explicit authorization.
- Present an amount without its currency where confusion is likely.
- Mislead people about the value or safety of where their money is held.
Only with a human decision
- Any transfer, exchange or investment of a person's money.
- Freezing or blocking someone's access to their funds.
May
- Explain what money is and how currencies, deposits and exchange rates work, citing sources.
- Report amounts with their currency and date so they are not confused.
Moral aspects Filled
- Money mediates access to food, housing and care; errors and fraud hurt the poorest most.
- Inflation and access to banking shape who can save and who cannot.
Who is affected
- Holders and savers
- People without access to banking
- Victims of fraud
Owners Filled
Steward
The issuing state and its central bank for currency; banks for deposits they hold.
Master systems
- Central bank and bank account records
Links to other meta-models Filled
parent
- oewn-13394134-n - registry parent class
related
- payment - payments move money
- central bank - currency issuance
- currency unit - ISO 4217 codes
- wealth - money is one form of wealth
What else AI and robots need to interact with it Filled
Identity and identifiers required Filled
- Vercy registry: vr.tr.money
- Open English WordNet: oewn-13405730-n
- ISO 4217 currency code: three letters, such as EUR identifies currencies
Direct properties not applicable Not applicable
Not applicable
Plane SOC: no invented physical properties.
Recognition optional Filled
- Banknotes with security features: watermarks, threads, holograms
- Coins with issuer marks
- Account balances with currency codes such as EUR or USD
- Banknotes and coins, and balances shown in bank accounts, cards and apps.
Capabilities and actions required Filled
- pay and receive it
- hold it, as cash or as deposits
- convert it between currencies
- measure prices and accounts in it
Hazards and failure modes required Filled
- Counterfeits
- Fraud and scams
- Inflation eroding value
- Currency confusion in amounts
Standards and interfaces required Filled
- Central bank laws and legal tender statutes
- Anti-money-laundering law
- ISO 4217 currency codes
- Counterfeiting law
Context of use required Filled
- Paying for goods and services, settling debts, measuring value and saving.
- cash: banknotes and coins
- deposit money
- central bank reserves
- electronic money
- foreign currency
- funds held for a purpose, such as appropriations
Sources Filled
- Open English WordNet 2024, synset oewn-13405730-n - sense and gloss of the concept
- Wiktionary: money - word senses and usage
Open questions
- Should cash, deposits and e-money be separate entries?
- How should funds and appropriations, merged here as aliases, be split off?
- How should agents state amounts so the currency is never ambiguous?
Machine files
Provenance
thing registry research (pass 2) · unreviewed
Built from: models/things/publications/thing-money/spec.json