Add EIP: Purpose bound money

[proj-orchid-straitsx]

The team is proposing to standardise the implementation of purpose-bound money (PBM) in an EIP. The aim is to provide a common specification for wallet players to be able to interact freely with PBM smart contracts issued by various PBM creators for various business use cases.

What are PBMs?
PBMs are a hybrid form of programmable payment and programmable money, which are bearer instruments, with self-contained programming logic and are transferrable between two parties without intermediaries.

What are the practical uses?
Purpose-bound money can be used to implement government disbursement tokens, shopping voucher tokens, prepaid tokens, rewards points token, purpose bound donation token, school allowance token etc. For additional information on PBM, please refer to:

• Project Orchid Whitepaper and media release
• PBM Technical Whitepaper and media release by Monetary Authority of Singapore (Singapore’s central bank and financial supervisory authority)
• Live Demo Videos from Singapore Fintech Festival 2022

What are our goals?
To develop a minimal interface that can promote interoperability between various payment market players. The proposed interface builds upon ERC-1155 to ensure widespread compatibility with existing wallets.

Our team would appreciate any comments on the proposal’s design, feasibility as well as any security concerns. As the proposal is in the draft stage, the proposal will continue to evolve as we receive comments from the community.

Link to discussion at Ethereum Magician

[eth-bot]

File EIPS/eip-7291.md

Requires 1 more reviewers from @axic, @Pandapip1, @SamWilsn, @xinbenlv

[alcedo]

not sure why this is now suddenly reporting an error

[abcoathup]

Suggested change

	eip: 7292
	eip: 7291

Assigning EIP number using PR number of first opened PR #7291
Please also update the filenames.

[wongtsejian]

Thanks for your quick response. I have updated the EIP number to 7291 and changed the filenames.

[proj-orchid-straitsx]

Hi, is there anything else that we need to do before this can be merged?

[github-actions]

The commit 1cf7bea (as a parent of 27172d0) contains errors.
Please inspect the Run Summary for details.

[wongtsejian]

• added detailed definition of PBMs
• removed reference to project orchid articles

[wongtsejian]

Hi @lightclient ,

Gentle reminder, could you check if our changes have addressed your request?

[alcedo]

hi @lightclient any feedbacks on this for the next steps?

[alcedo]

@abcoathup would you be able to advise on the next step?

[abcoathup]

@abcoathup would you be able to advise on the next step?

@alcedo You need an EIP editor to review (which I am not) to get this merged as a draft ERC.

There is an EIP office hours tomorrow that you might want to join to ask about getting reviewed and anything outstanding.
https://github.com/ethereum-cat-herders/EIPIP/issues/262

[alcedo]

thanks @abcoathup !

[SamWilsn]

I am closing this pull request because we are in the process of separating EIPs and ERCs into distinct repositories. Unfortunately, as far as we are aware, GitHub does not provide any tools to ease this migration, so every pull request will need to be re-opened manually.

As this is a PR to create / modify an ERC, I will kindly ask you to redirect this to the new repository at ethereum/ERCs. We have prepared a guide to help with the process.

If there is relevant history here, please link to this PR from the new pull request.

On behalf of the EIP Editors, I apologize for this inconvenience.