MetaCurrency proposes a shared language for expressing the rules that govern currencies, which would allow for a rich network of interconnected currencies that reference one another, similar to how documents are hyperlinked on the web. This shared language would specify how currencies can be issued, transacted, have balances calculated, and be retired in a standardized way across all currencies.

1. So how is MetaCurrency different?

2. Every currency is governed by rules.

3. Rules specify who can
issue the currency,

4. under what circumstances,

5. how the currency is
transacted,

6. how balances are
calculated,

7. and how the
currency is retired.

8. But despite today’s
enormous variety of currency
rules,

9. there is no shared way of
expressing them.

10. If we had a shared language
for expressing rules,

11. we could build a rich
network of currencies.

12. And, currencies could
reference each other,

13. in the same way documents are
hyperlinked on the web.