Payeean

Payeean is a proposed unit of account and measurement used in discussions of digital and social payment systems. In this conceptual framework, a payeean represents a standard unit of value earned through reliable payment behavior and reciprocation within a network. It is intended to function within open or semi-closed ecosystems that tie financial settlement to social signals such as contract fulfillment and cooperative behavior.

The term is a blend of "payee," the recipient of a payment, and the suffix -ean, used to denote a unit or system. It has appeared in theoretical writings and some pilot experiments exploring alternative credit mechanisms and incentive structures rather than in mainstream finance.

Within a payeean framework, participants accumulate payeeans by meeting payment obligations on schedule, providing liquidity to a platform, or assisting other users. Payeeans may be spent on goods and services within participating networks or exchanged for fiat currency or other digital assets according to predefined rates. Some models propose using cryptographic proofs or reputation data to verify eligibility and adjust value.

Governance can vary from centralized management by a platform operator to decentralized schemes using smart contracts. Advocates argue that payeeans could improve trust, reduce default risk, and align incentives. Critics warn of privacy risks, potential exclusion for those with limited access to participating networks, and the creation of new forms of economic privilege if not carefully designed.

See also: reputation economy, digital currency, social credit, unit of account.