The goal for the remainder of this year is to create a functional online transaction mechanism between two independent currency brands. In order to do this, the following implementations must be developed and refined:
1) Reporter Site – Only a demo of intended inter-entity trade results is available so far. The actual Reporter mechanism will be distinguished from a LETS-type or Ripple administrative system as follows:
- A Reporter simply acts as an observer to this event: matching copies of a transaction record have been independently published by both entities involved.
- The Reporter’s recorded observation of that event would be available on-demand and have durability. (This feature should address potential concerns of unreliable record maintenance within each entity.)
- A Reporter does not have any idea of the spending or revenue limits of transacting entities. Those currency limits are independently determined by and within each entity.
- A Reporter’s currency brand limits must not be affected by any transaction that it observes. No payments goes through the Reporter – it simply witnesses that a specific payment has been made between two entities.
In the past, it was simply assumed that a Reporter would pull batches of published server data on a pre-determined, regular schedule. The goal for this quarter is to prototype a Reporter that could act as an observer on-demand, with copies of a specific transaction record pulled at the instance of being completed and published.
2) Prowl Updates – The Prowl standards will be abstracted even more. The reporting standards will be more generalized in order to accomodate available and future server platforms. The on-demand Reporter must be able to recognize Prowl standards in order to generate its own record of published transactions.