FAQ


 * The STR would require membership to read or post.

 * It would consist of two tables: open/unposted transactions
     and timestamped/final posted transactions.

 * the open and final tables will have identical structures

 * the architecture supports multi-line journal entries i.e.
     splits between multiple entities.


The STR supports two modes of operation:

  1. As an infrastructure mode, enabling passing of E-commerce messages
     such as bills, PO, and payments between trusted parties, under
     an Offer-Acceptance model intended to closely represent the fundamental
     Offer-Acceptance components of commercial contracts, and

  2. As a Web Ledger back end, enabling a complete, general purpose
     storage to support accounting systems which store their data on the
     internet.

In either mode of operation the STR must present a complete and sufficient
data model for a sub-ledger that can run alongside existing accounting
systems with as little disruption as possible, to enable incremental 
adoption.


Question:

> Would the best way to get this going be, to make it with one 
> corporation in mind as the host and view it as self service 
> bill presentation etc and then open it up to the multi-multi model?

Answer:

The basic concept of storing permanent records of transaction
events on the ASP is not a new or radical idea.  Many companies
do it in several broad ways: pure independent notaries like
http://www.valicert.com/, and any B2B hubs or SCM service bureau
hosting transactions for multiple participants, etc. 

There are innumerable ways that this basic principle will be 
implemented, by a wide variety of vendors. 

What is new, and viral, and revolutionary is to provide a basic
open-source code base, that can be compiled into apache or run
under Jserv, etc. to actually operate a Shared Transaction
Repository.    The STR repository itself is naturally viral
because it invites nonmembers to join everytime it receives
a transaction for a party not a member on the current host.

The open source STR software platform itself is viral because
it has an incremental revenue model which rewards early host
implementers with geometric growth as other STRs and registries
of STRs, are established around the internet. 

So, of course, you would run an instance of the STR and probably
provide membership to the whole wide world, for free.  That is
the business model.  It is a hotmail type of model.  You would 
keep hosting it, and paying for the bandwidth and server capacity
forever.  You would get, in return, accesss within your terms of
service, to the identities of a growing number of participants
on the hub, to whom you could sell other IT services.  Most importantly
you would gain knowledge, contacts, experience, strategic
partnerships with subscribers to the STR. 

In summary, revenue models might include these:

1.  Generates some indeterminate amount of consulting fees,
2.  Generates a marketing or mailing list,
3.  Company builds value; you could sell out later,
4.  You get involved with the subscribers and gain equity in 
      other internet ventures thru these relationships.

TOdd