After 7 or 8 years of studying banking, politics, economics, and money, the problem with money became apparent through reverse engineering the concept of money. A solution called Promise Language was developed using software programming concept/object-oriented design principles. It is a simple specification that is similar to basic contract law and is easily read by a computer. It's designed to be a public specification that is both human and computer readable. Ensuring trust is maintained by tracking the results of people's promises between each other. When implemented, money becomes obsolete. All transactions become transfers of wealth (or value).
For details on Promise Language:
http://promiselanguage.blogspot.com
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