Chapter 1 -- the webcredit
A webcredit is simply a credit or IOU between two counterparties.
It is the smallest piece of DNA required to make up a financial system. Also, every financial system is based on transactions that can be modeled using webcredits.
As such webcredits are a necessary but not always sufficient starting point for any web payment system.
Every payment needs two counterparty and an amount. The amount is denominated in a currency.
In turtle a webcredit will look something like:
<#this>
a <https://w3id.org/cc#Credit> ;
<https://w3id.org/cc#amount> 100 ;
<https://w3id.org/cc#currency> <https://w3id.org/cc#bit> ;
<https://w3id.org/cc#destination> <http://melvincarvalho.com/#me> ;
<https://w3id.org/cc#source> <https://workbot.databox.me/profile/card#me> .