At some level, money is just data.
When I started this mailing list, I chose 'network ledger technology' as a term because it sounds fancy, as a next step after 'distributed ledger technology'.
But the more I think about why I want to help build a system like LedgerLoops, RumplePay, Interledger, LETS, etcetera, the more I think in terms of "personal bookkeeping, federated".
I also felt it was a bit weird that the description of this mailing list linked to a definition on my personal blog. So I changed the group description - to mean the same thing, but described from the user angle, rather than from the technology/disruption angle.
I also ran into this newly founded W3C group by the way, whose name seems to be related:
Maybe Federated Commerce is a superset of Federated Bookkeeping?
In the LedgerLoops project, I'm looking more and more towards a combination of several functions into one software product:
- a personal budget app, where you import your bank statements and control your monthly spending
- a "group tabs" app for bookkeeping between a group of friends (and maybe related, a bill splitting app)
- hours admin for freelancers (this is mainly a personal itch to scratch)
So it would very much be a bookkeeping app first, and federated second. In the current prototype, the data is stored in the user's Solid