currency
Let an agent handle currencies by code, issuer, status and subunits, and treat crypto tokens and historical currencies with their true status.
Bundle → Layer → Finding → Questions Filled
4 bundles · 8 layers · 8 findings · 16 questions
Identity Which currency.
Code
ISO 4217.
Code
Currency code.
- Which ISO 4217 code identifies this currency? provenance
- Could its symbol be confused with another? boundary
Status
Current or historical.
Status
Current status.
- Is the currency current, and where? boundary
- What replaced it, if historical? provenance
Structure Units and issuer.
Units
Subunits.
Subunits
Subunits and minor units.
- What subunits does it have? definition
- How many decimal places are used? measurement
Issuer
Central bank.
Issuer
The issuing authority.
- Who issues it? provenance
- Which monetary policy regime applies? definition
Exchange Converting it.
Rate
Exchange rate.
Rate
Rate and source.
- What is the exchange rate, from which source and time? provenance
- Is the rate fixed or floating? definition
Controls
Capital controls.
Controls
Restrictions.
- Are there exchange or capital controls? boundary
- Are there multiple official rates? boundary
Non-state and historical Other currencies.
Crypto-assets
Tokens.
Crypto status
Legal status of tokens.
- What is the legal status of this token here? boundary
- Must an agent avoid giving investment advice about it? boundary
Historical
Old currencies.
History
Historical context.
- When and where was it used? provenance
- Is it still redeemable? boundary
Classifiers Filled
- Family
- Thing Registry
- Category
- Cross-cutting context
- Entry kind
- thing
- Plane
- XCT
- Domain
- XCT.QLT
- Other names and narrower kinds
- ERC-20, dinar, fals, bawbee, siege money, Sycee, Dajōkan-satsu, gold dinar, modern gold dinar, ducat, Offa's imitation dinar, Cekin
What it is Filled
A generally accepted medium of exchange for goods or services within a country, area or community, including historical and private currencies, which may have a standard code, subunits or an issuing authority but need not have all or any of these features.
Why it exists Filled
Let an agent handle currencies by code, issuer, status and subunits, and treat crypto tokens and historical currencies with their true status.
Distinguishing features Filled
- A currency is a system of money rather than only its physical notes.
- Some currencies are identified by ISO 4217 codes.
- Some currencies have subunits such as fals or cents.
- Currency status does not by itself establish legal-tender status.
What robots and AI may and may not do Filled
Must not
- Treat an ambiguous symbol such as the dollar sign as one currency without checking context.
- Accept, quote or pay in a withdrawn currency as if it were still legal tender.
- Present a private token or voucher as legal tender.
- Assist in counterfeiting notes or coins.
Only with a human decision
- Making payments or exchanges in a currency on someone's behalf.
- Choosing the currency for a contract or price that binds a person.
May
- Convert amounts between currencies using a stated rate, source and time.
- Identify a currency using its name, context and any available standard code or issuing authority rather than relying on an ambiguous symbol.
Moral aspects Filled
- Currency errors silently change what people pay or receive.
- Currency policy affects savings and prices for whole populations, often the poorest most.
Who is affected
- Payers and payees
- Savers and holders of the currency
- Traders and businesses
Owners Filled
Steward
An issuing authority may oversee a currency where one exists; other currencies have different governance arrangements, and the public holds and uses them.
Master systems
- Central bank records document circulation where applicable.
- Other currencies may be documented in their own governance records or historical records.
Links to other meta-models Filled
parent
- Q11105360 - registry parent class
- Q1368 - registry parent class
- Q47574 - registry parent class
- Q65240001 - registry parent class
related
- money - medium of exchange
- physical money - notes and coins
- central bank - issuer
- crypto-asset - different legal status
What else AI and robots need to interact with it Filled
Identity and identifiers required Filled
- Vercy registry: vr.tr.currency
- Wikidata: Q8142 (https://www.wikidata.org/wiki/Q8142)
- ISO 4217 code: three letters and three digits for example EUR 978
Direct properties not applicable Not applicable
Not applicable
Plane XCT: no invented physical properties.
Recognition optional Filled
- Currency symbols such as EUR, USD or local signs
- ISO 4217 codes
- Historical currencies such as siege money or sycee are collectors items
- The notes and coins of the currency, its symbol, and its code in accounts.
Capabilities and actions required Filled
- price and pay in it
- exchange it for other currencies
- identify it, by ISO 4217 code
- track its status, as current, historical or replaced
Hazards and failure modes required Filled
- Ambiguous symbols such as $ used by many currencies
- Treating crypto tokens as legal tender
- Using withdrawn currencies
Standards and interfaces required Filled
- ISO 4217
- Central bank laws
- EU MiCA regulation on crypto-assets
Context of use required Filled
- Denominating prices, payments and accounts.
- national currencies
- currency unions such as the euro
- historical currencies
- emergency currencies such as siege money
- crypto-assets and tokens
Sources Filled
- Wikidata item Q8142: currency - identity and sense of the item
- Wikipedia: Currency - general description of the item
Open questions
- Should currencies be instances with ISO codes?
- How should historical currencies be linked to successors?
- How should crypto-assets be classified?
Machine files
Provenance
thing registry research (pass 2) · unreviewed
Built from: models/things/publications/thing-q8142/spec.json