What is ment by an Agreement Ledger?
The agreement ledger is a business ledger in which certain agreements are defined. Participants voluntarily submit to these agreements without entering into more stringent contractual obligations.
Therefore, there are no legal regulations or contractual obligations involved. Only the documentation of free agreements, which were created beforehand, takes place. The participating sites agree on certain principles and rules.
The purpose of the agreement ledger is always to achieve a common goal or task. The path to this end always takes direction from this ledger. In the case of registration, there is no monitoring control whatsoever by super-ordinate bodies of a private or social nature.
No company owner or director makes individual decisions in this context, as there is no structure for decision-making. Everything is voluntary.
Once an agreement ledger has been created, participants can freely decide when they want to participate and for what period of time.
Agreement ledger as the basis for cryptographic currency
The block chain for digital currencies is general knowledge for many. However, fewer realize that the blockchain itself is an agreement ledger. The rules for the functioning of cryptographic currencies were laid down by the inventor or inventors.
Now everyone is free to decide whether to recognize these rules. Only by accepting the participants can cryptocurrencies successfully assert themselves.
Bitcoin is the first digital currency to make itself a truly international success. Ethereum is rapidly on the way to a global breakthrough, and so are many more on the way.