How it works: Steps in the open play process
- Offers and Requests for Acknowledgment: Making a play begins with either an offer or a request for the acknowledgment of some kind of wealth. We give this act the generic name of ''play''. Making a play initiates a dynamic tension inside the market place where mutual parties can meet, evaluate each other, and complete the play. Requester and offerer can be individuals, the community or their representatives.
- Examination: The play is assessed by the offerer, the requester, and the community (or its representatives) when the community is not already the offerer or the demander. Parties examine the wealth this play claims it will generate in regards to their needs, criteria, value system, ethical standards, etc. This evaluation can be done as a ''deliberation'' (inquiry of convergent interests) or ''negotiation'' (tension between divergent interests leading to a final compromise).
- Agreement: The play can be accepted, refused or re-examined. When a final agreement is reached it becomes an approved play, which is a contractual transaction that involves the offerer, the requester, and the community (if the community is not already the offerer or the requester). Deadlines, numbers, milestones, costs, deliveries, particular wealth acknowledgments are detailed in this agreement. Wealth acknowledgments can be – and will in most cases be – expressed in multi-currencies in the open money way: hard cash, community currencies, reputation points, carbon credits, etc...
- Evaluation: Once the content of the play has been delivered (i.e. the work, or resources, etc. have been deployed), the community, the requester and the offerer check whether original expectations have been met and the original contract respected. The level of generated wealth can be reevaluated negatively or positively (as in the examination phase) through a deliberation or negotiation process.
- Acknowledgment: Acknowledgment is the conclusion and closing of the agreement. It seals the level of wealth the community and the transactors agree to acknowledge that the play has resulted in. This acknowledgment itself will be expressed as a flow of some set of open money currencies between the various parties involved. The level of wealth acknowledged may be stable or may continue to evolve in the future. In the later case we enter in the wealth assessment marketplace. The person or group of persons who have generated the wealth become the trustee of this piece of acknowledged wealth. Trustee but not owner, since the system is not based on ownership.
- Redeeming: The redemption phase of the process is where the acknowledged wealth of play that has been recorded in the previous phase, is converted to some other form of wealth that the contributor can use. It's the "pay-back" phase. At anytime, depending on the original agreement and on the flows of other forms of wealth (i.e. hard cash, commodities, etc) inside or from outside the community, trusted wealth can be redeemed. Those who generated the wealth are paid in whatever currencies, as agreed in the acknowledgment phase. A redeemed play becomes a "closed case" that remains in the memory of the information system, i.e. in the collective memory of the community.