Programmability: Difference between revisions
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:First, by dispensing with messaging and the reliance on account managers to update records, it provides greater scope for composability, whereby several actions are bundled into one executable package. | :First, by dispensing with messaging and the reliance on account managers to update records, it provides greater scope for composability, whereby several actions are bundled into one executable package. | ||
:Second, it enables the contingent performance of actions through smart contracts, ie logical statements such as “if, | :Second, it enables the contingent performance of actions through smart contracts, ie logical statements such as “if, then, or else”. | ||
then, or else”. | |||
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* [[Account]] | * [[Account]] | ||
* [[Balance sheet]] | * [[Balance sheet]] | ||
* [[Bank for International Settlements]] (BIS) | |||
* [[Cash management]] | * [[Cash management]] | ||
* [[Central bank]] | * [[Central bank]] | ||
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* [[Central bank money]] | * [[Central bank money]] | ||
* [[Composability]] | * [[Composability]] | ||
* [[Contingency]] | |||
* [[Cryptocurrency]] | * [[Cryptocurrency]] | ||
* [[Currency]] | * [[Currency]] | ||
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* [[Smart contract]] | * [[Smart contract]] | ||
* [[Stablecoin]] | * [[Stablecoin]] | ||
* [[ | * [[Tokenise]] | ||
* [[Wholesale central bank digital currency]] (wCBDC) | * [[Wholesale central bank digital currency]] (wCBDC) | ||
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==Other resource== | ==Other resource== | ||
*[https://www.bis.org/publ/arpdf/ar2023e3.pdf Bank for International Settlements (BIS) Annual Economic Report 2023] | *[https://www.bis.org/publ/arpdf/ar2023e3.pdf Bank for International Settlements (BIS) Annual Economic Report 2023] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 09:50, 30 July 2024
Cash management - treasury - tokenisation - central bank digital currency (CBDC) - distributed ledger - platforms.
In the context of ledger platforms, programmability means the ability to incorporate contingent instructions that can be executed without human intervention.
- Benefits of programmability
- "Tokenisation – the process of recording claims on financial or real assets that exist on a traditional ledger on a programmable platform – introduces two important capabilities.
- First, by dispensing with messaging and the reliance on account managers to update records, it provides greater scope for composability, whereby several actions are bundled into one executable package.
- Second, it enables the contingent performance of actions through smart contracts, ie logical statements such as “if, then, or else”.
- By combining composability and contingency, tokenisation makes the conditional performance of actions more readily attainable, even quite complex ones...
- Moreover, programmability allows new types of contingent payment, while certain policy measures (eg capital controls) can be built in from the start."
- Bank for International Settlements (BIS) Annual Economic Report 2023, pages 89 & 91.
See also
- Account
- Balance sheet
- Bank for International Settlements (BIS)
- Cash management
- Central bank
- Central bank digital currency (CBDC)
- Central bank money
- Composability
- Contingency
- Cryptocurrency
- Currency
- Digital currency
- Distributed ledger
- Financial asset
- Helvetia III
- Infrastructure
- Money
- Multi-CBDC arrangement
- Platform
- Real asset
- Reconciliation
- Reserve
- Retail central bank digital currency
- Sight deposits
- Smart contract
- Stablecoin
- Tokenise
- Wholesale central bank digital currency (wCBDC)
