Glossary
Alternative Currency | A type of money used instead of an official, national money. Contrast with Complementary Currency. |
Archetype | A recurrent image that patterns human emotions and behavior, and which can be observed across time and cultures. |
Artisanal | Created by an artist or craftsman outside of an industrial setting. |
Asset Backed | Having no intrinsic value but given value by connection with something else; |
Beneficial Shares | Fractions of ownership by a beneficiary |
Bill of Exchange | A document guaranteeing the payment of a specific amount of money, either on demand, or at a set time with the payer named on the bill. |
Bitcoin | An open source cryptographic protocol that operates on a peer-to-peer network and creates and transfers eponymous units of currency. |
bitcoin | A unit of a digital cryptocurrency which is transferred via the Bitcoin system |
Bitcoin 2.0 | The system to attach information and attributes to Bitcoin currency units and to transmit non-financial information securely on the Bitcoin system. |
Blockchain | The series of blocks of validated information forming the distributed ledger of the Bitcoin system. |
Bracteaten | Thin, wafer-like coins used as money in the High Middle Ages. They were easily damaged and frequently collected and reissued. See The Soul of Money. |
BVK | Bougainville Kina, the official money of the island of Bougainville in the Solomon Islands |
Certificate of Beneficial Interest | Certifies standing as a beneficiary of a trust and having a claim on its assets |
Certificate of Financial Interest | Certifies standing as having standing and a claim on the finances of a trust |
Colored Coins | Assignment of different types or characteristics to currency units |
Community | A group of people with a common interest living in a particular area |
Complementary Currency | A type of money which works with the national money to provide needed benefits which would otherwise be lacking |
Commodities | Something of value commonly bought and sold in quantities. |
Conditional Transfers | Transfer of funds depends on meeting certain requirements, such as signatures, fulfilling obligations, or performing actions. |
Cooperativa | A credit union or financial services company in many Latin American countries |
Counter-Cyclical | Acting contrary to a business cycle, so that when business activity is increasing, this activity decreases, and vice versa. |
Counter-trade | Acting contrary to a business cycle, so that when business activity is increasing, this activity decreases, and vice versa. |
Currency | Money in circulation. A portable version of money or representation thereof. Coins, notes (“bills”), and electronic records are the most common forms. |
Currency System | A system of circulating and using currency, usually containing physical as well as digital currencies of different amounts, and a system to regulate the currencies. |
Cryptocurrency | A form of money that uses cryptology to control its creation and management, rather than relying on central authorities |
Decentralized | Located at several different locations, instead of just one. |
Demurrage | A charge made to the owner for his use of money. Reverse Interest. |
Digital Currency | Currency existing entirely as computer records in accounts. |
Disseminated | Located at several different locations, with no control nodes. |
Dividends | Money paid to the owners of bonds or shares of a company. |
Divisibility | Able to be divided into smaller functioning parts. |
Electronic Wallet | A computer program which keeps track of currency, generally in a secure, encrypted form. Can be located in a computer, smart phone, or in a memory device. |
Escrow | Money or other assets held in trust by a third party to be turned over to the seller only upon fulfillment of a condition |
Ethereum | A protocol for creating cryptocurrencies and conditional transactions, with an emphasis on colored coins and whatever different characteristics are desired. http://blog.ethereum.org/ |
Exchange | the act of giving or taking one thing in return for another |
Fiat Currency | Money which has no intrinsic value, but which is considered to have value because of a pronouncement by an authority |
FRN | Federal Reserve Notes—the common US “dollar bill” |
Fungible | Equivalent to all other units of a similar type. |
GGBux | Printed GGShare notes designed for trade, local and international |
GGCoin | A cryptocurrency which is traded as part of GGCurrency system, and which is equal in value to a share of GGTrust |
GEO | The money system initiated by GGTrust, and incorporating shares of GGTrust, currencies exchangeable with those shares, and commodities which back the currencies |
GGShares | Fractions of the assets of GGTrust, and tradable notes representing those shares |
GGTrust | Global Genius Trust, an international holding company |
Intellectual Property | Ideas and written or created materials having commercial value |
Interest | A time-based fee for borrowing money. Generally a percentage of the money borrowed |
Intrinsic Value | Having value in and of itself, without needing to be backed by anything else. Such as a gold coin, as compared to a dollar bill backed by gold. |
Investment Shares | Fractions of the financial assets of GGTrust, obtained by investing money or something of value into GGTrust of one of its companies |
Ledger | The record of transactions that a bank or company keeps. |
Legal tender | Officially accepted for the payment of debts and taxes. |
Mining | The process of using computers to solve complex cryptologic problems in order to validate the ledger of a cryptocurrency. Solving the problems is rewarded by the creation of new currency units for the miner. |
Money | An agreement by a community to use something as a means of payment. |
Money of Account | A denominator of value or basis of exchange which is used in keeping accounts and for which there may or may not be an equivalent coin or denomination of paper money |
National Currency | A nation’s officially sanctioned money |
Ostracon | A potsherd used as a receipt or as currency by the Egyptians, Greeks and others. See The Soul of Money. |
Passbook | A small booklet modified by a bank and used as a ledger for a customer to keep track of the amount of money in a bank account |
Real Property | Real Estate, land, houses, buildings |
Share | A fraction of the ownership of an enterprise |
Smart Property | Property whose ownership is controlled via the block chain of Bitcoin or other cryptocurrency, using contracts |
Social Capital | The amount of benefit to a society and community relationships |
Terra | A currency designed by Bernard Lietaer for international trade, intended to counterbalance the instability of national currencies. |
TRC | Trade Reference Currency. A basket of commodities to be used as a standard in trade. |
Treasury Accounts | Corporate accounts in which unallocated funds are stored |
Unit of Account | A standard monetary unit of measurement of value/cost of goods, services, or assets. |
Wir | Swiss complementary currency dating back to the 1930s. |
Yin | Chinese term for that which is feminine, dark, cold, mysterious, yielding. Opposite of Yang |
Yang | Chinese term for that which is masculine, strong, bright, hard, hot. Opposite of Yin. |
Table 5. Glossary of terms used in this paper.