Programmable money means that transactions execute via smart contracts. If the required criteria for the transaction are not met then the transaction fails.
So, for example, let's say each wallet (a wallet is tied to a person's digital ID) is allowed $50 per month in "carbon fuels". You gas up one time on July 3rd, for $43. On July 10th, you try to gas up again. You put your card (or fob or face scan or whatever) in the pump, it checks to see what your remaining monthly carbon fuel allowance is for your wallet. It finds that you only have $7 remaining for the month. You start pumping fuel, and after two gallons the pump stops. You cannot pump anymore until August 1st because your monthly allowance has now been reached.
Similarly, you can set tokens to have an expiration date. So, you get your monthly paycheck as a federal employee of $5,000 on July 1st. Anything leftover from that July paycheck at midnight August 1st disappears because it is set to expire after one month. This takes away the ability to accumulate savings.
And they control the transaction processing, so they can change the rules whenever they want. e.g. Start blacklists where people who don't follow the rules cannot make any transactions.
Programmable money means that transactions execute via smart contracts. If the required criteria for the transaction are not met then the transaction fails.
So, for example, let's say each wallet (a wallet is tied to a person's digital ID) is allowed $50 per month in "carbon fuels". You gas up one time on July 3rd, for $43. On July 10th, you try to gas up again. You put your card (or fob or face scan or whatever) in the pump, it checks to see what your remaining monthly carbon fuel allowance is for your wallet. It finds that you only have $7 remaining for the month. You start pumping fuel, and after two gallons the pump stops. You cannot pump anymore until August 1st because your monthly allowance has now been reached.
Similarly, you can set tokens to have an expiration date. So, you get your monthly paycheck as a federal employee of $5,000 on July 1st. Anything leftover from that July paycheck at midnight August 1st disappears because it is set to expire after one month. This takes away the ability to accumulate savings.
And they control the transaction processing, so they can change the rules whenever they want. e.g. Start blacklists where people who don't follow the rules cannot make any transactions.