Commodity token

Commodity tokens are issued by an Economic agent on completion of an exchange. The token represents a right to a specific output (the ‘underlier’ it describes). Basically, a commodity token refers to a promise of someone to do something: it is a right to a future performance. In essence, it makes any informational event exchangeable. The commodity tokens transacted in the economic space protocol represent informational events that include, but are not limited to, the delivery of actual goods and services. The term ‘commodity’ means here any good or service (tangible or intangible) produced for, and validated by, the network. In a single commodity exchange, price is just one data event, with the potential statistical significance of other data events awaiting discovery within the network. Commodity transactions will be tied to credit issuance in a dynamic system of exchange. A commodity token verifying the creation of commodity value can be utilized to settle credit. Credit tokens and commodity tokens will therefore often be paired in clearing a ledger entry.