Development of a mission statement for information and knowledge architectures for systems management of a global reserve currency

Article type: Research Article

Authors: Cardullo, Mario W. | Sage, Andrew P.

Affiliations: Department of Systems Engineering and Operations Research, George Mason University, Fairfax, VA, USA

Note: [] Corresponding author: Andrew P. Sage, Department of Systems Engineering and Operations Research, George Mason University, Fairfax, VA 22030-4444, USA. E-mail: asage@gmu.edu

Abstract: The global financial system is moving, slowly, toward a new global reserve currency. The US dollar has been dominant since 1948 and implementation of the Bretton Woods Agreement. However, there has been a growing movement to replace the US dollar with an expanded SDR. Having a single global reserve currency will require development of new information, knowledge and system management architectures that are capable of assisting in providing stability for the new reserve currency. This paper sets forth an analytical framework for development of a detailed mission statement of such an architecture based upon a modified structured analysis approach and an associated IDEF0 activity diagram for the proposed architecture. Stability for this new global reserve currency is a basic design need for this new systems management architecture. Without stability, a global reserve currency will have difficulty in becoming the major source of an appropriate global payment system. An appropriate global payment system is one in which it leads to stability in in the financial markets. And, in the absence of strong governance, no global payment system can be assured of being stable.

DOI: 10.3233/IKS-2012-0212

Journal: Information Knowledge Systems Management, vol. 11, no. 3-4, pp. 297-319, 2012