Value backed by completed work
A PAT Voucher represents a claim on real value already recorded in the PAT Ledger.
When a PATizen creates value and is owed value in return, that claim can be recorded in the PAT Ledger. Where appropriate, some or all of that claim may then be offered as a PAT Voucher.
The voucher can then be transferred to another person, giving them the right to redeem the value described on the voucher.
A real PAT example:
PAT-V-0001 represents $605 of treatment with Debbie at The Cottage Clinic. Its backing comes from outstanding value recorded in PAT Master Ledger entry PAT-0001.
The voucher is currently offered for $544.50, giving the purchaser $605 of redeemable value — a 10% saving.
