A Framework for Programmability in Digital Currency

Programmability is a key feature of the PArSEC system. To ensure the accessibility of this critical new research, MIT Digital Currency Initiative has developed "A Framework for Programmability in Digital Currency.” This document provides a common vocabulary for practitioners and policymakers, dispelling common misconceptions about programmable money and highlighting different choices in programmability and the tradeoffs and risks of each choice. 

The framework presents a taxonomy for what we describe as the different “levels” of programmability, from application programming interfaces (APIs) to stateful smart contracts. The authors conclude that programmability can be enabled at different locations in digital currency systems and that further research is needed to understand if and how to apply programmability in future systems.

Authors

Nikhil George, MIT Media Lab*
Tadge Dryja, MIT Media Lab*
Dr. Neha Narula, MIT Media Lab

*At the time the work was conducted