Main types of interactions between users

In the system, several main forms of interactions between users can be distinguished, these are the creation and management of money, contracts and certificates. A contract implies the agreement of two persons to the conditions in them, with the subsequent fulfillment of these conditions. A certificate is a document that confirms the competence to perform certain actions, according to one or another user of the system.

Creation of money.

The open principle implies that any user can create their own local currency and interact on its basis with other users, how this will happen will be discussed in a separate article.

money contract

The first and main form of interaction is contracts concluded between two users for a loan or a gratuitous transfer of money. Such a contract is essentially like a paper receipt for a loan between two people, but fixed in the system and signed by electronic signatures of two users. The terms of the contract indicate the amount and the terms of its return, as well as the publicity of the contract, it can be initial in this case, the contract is visible immediately to all participants in the system, or public only after violation of the conditions, when the terms of the contract are not met.

commodity contract

A commodity contract is a contract for the sale of any commodity. A commodity contract is created by the manufacturer of the goods. The terms of the commodity contract include the price of the product itself and, if required, an eco-price. Ecoprice – the amount that the manufacturer of the goods will return for returning the goods after use. When selling, the contract is transferred to another user along with the product itself. Any commodity contract contains environmental requirements for the disposal of this product. The purchase of a product imposes the responsibility of the user on its disposal, and on the manufacturer to ensure this disposal, that is, to buy back the recycled product or what is left of it after use. An example of this kind of product would be an ordinary plastic bottle, its sale should involve returning it back to the manufacturer. Such contracts are not controlled by arbitration, since their execution is concluded in the direct transfer of goods from hand to hand.

A commodity contract with an eco-price can be closed by the manufacturer or the one who has the right to accept the goods for disposal. If the product does not have an eco-price, then the commodity contract can be closed by any end buyer. A commodity contract is something like a check for goods belonging to the owner of the goods, which indicates the initial price of the goods, as well as all subsequent purchase and sale prices for this product.

Budget contract

A budget contract is a collective contract between several and one user. This contract will allow for the payment of certain obligations, to collect funds from many users. For such contracts, all arbitration conditions, including a specific arbitrator, must be indicated.

Award

Arbitration is a decision on the contract in one direction or another, on the complaint of one or another party. Arbitration is possible only on the complaint of one of the parties. The costs of arbitration shall be borne by the party that was found to be in the wrong in the conflict. Any arbitration is valued either by a certain percentage of the value of the contract, or by a specific specified amount above a certain minimum. Any user who has full high-order verification and an arbitration certificate can be an arbitrator, except for one who participates in the contract itself.

Arbitration contract

An arbitration contract is any contract with complex implementation conditions, for example, involving services or regularity of supplies, in general, all those situations where, in the event of a dispute, the help of a third party is required in resolving the conflict between the parties to the contract.

To create such a contract, the terms of arbitration are specified, for example, a specific arbitrator is selected, the cost of arbitration services, or a specific arbitration certificate.

Creation of a certifying organization

Before issuing a certificate, you mustcreatecertifying  organization. Having created an organization, the user becomes its director. A certifying authority is the only form of organization in the system on behalf of which certificates are issued. Being a director of an organization, a user cannot create another certifying organization, that is, one user can be a director of only one certifying organization. The task of the certifying organization is to issue certificates to users on behalf of its director.

The certificate is a public expression of trust of the director of the organization to the user. An example of such a certificate is a diploma issued by an educational institution to its student. The director can both give a certificate and revoke it back if he deems it necessary. Certificates cannot be transferred. Certificates from the same organization may be different and contain different information.

 Issuance of a certificate

Only certifying organizations can issue a certificate to a user – by the director himself or on his behalf. The task of the certificate is to confirm the status of the user on behalf of the certifying organization. First of all, this concerns the field of education in which various kinds of diplomas of education will be a certificate.