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<div class="section" id="financial-model">
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<h1>Financial model<a class="headerlink" href="#financial-model" title="Permalink to this headline">¶</a></h1>
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<p>Corda provides a large standard library of data types used in financial applications and contract state objects.
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These provide a common language for states and contracts.</p>
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<div class="section" id="amount">
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<h2>Amount<a class="headerlink" href="#amount" title="Permalink to this headline">¶</a></h2>
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<p>The <a class="reference external" href="api/net.corda.core.contracts/-amount/index.html">Amount</a> class is used to represent an amount of some
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fungible asset. It is a generic class which wraps around a type used to define the underlying product, called
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the <em>token</em>. For instance it can be the standard JDK type <code class="docutils literal"><span class="pre">Currency</span></code>, or an <code class="docutils literal"><span class="pre">Issued</span></code> instance, or this can be
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a more complex type such as an obligation contract issuance definition (which in turn contains a token definition
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for whatever the obligation is to be settled in).</p>
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<div class="admonition note">
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<p class="first admonition-title">Note</p>
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<p class="last">Fungible is used here to mean that instances of an asset is interchangeable for any other identical instance,
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and that they can be split/merged. For example a £5 note can reasonably be exchanged for any other £5 note, and
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a £10 note can be exchanged for two £5 notes, or vice-versa.</p>
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</div>
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<p>Here are some examples:</p>
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<div class="codeset container">
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<div class="highlight-kotlin"><div class="highlight"><pre><span></span><span class="c1">// A quantity of some specific currency like pounds, euros, dollars etc.</span>
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<span class="n">Amount</span><span class="p"><</span><span class="n">Currency</span><span class="p">></span>
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<span class="c1">// A quantity of currency that is issued by a specific issuer, for instance central bank vs other bank dollars</span>
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<span class="n">Amount</span><span class="p"><</span><span class="n">Issued</span><span class="p"><</span><span class="n">Currency</span><span class="p">>></span>
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<span class="c1">// A quantity of a product governed by specific obligation terms</span>
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<span class="n">Amount</span><span class="p"><</span><span class="n">Obligation</span><span class="p">.</span><span class="n">Terms</span><span class="p"><</span><span class="n">P</span><span class="p">>></span>
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</pre></div>
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</div>
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</div>
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<p><code class="docutils literal"><span class="pre">Amount</span></code> represents quantities as integers. For currencies the quantity represents pennies, cents or whatever
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else the smallest integer amount for that currency is. You cannot use <code class="docutils literal"><span class="pre">Amount</span></code> to represent negative quantities
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or fractional quantities: if you wish to do this then you must use a different type e.g. <code class="docutils literal"><span class="pre">BigDecimal</span></code>. <code class="docutils literal"><span class="pre">Amount</span></code>
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defines methods to do addition and subtraction and these methods verify that the tokens on both sides of the operator
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are equal (these are operator overloads in Kotlin and can be used as regular methods from Java). There are also
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methods to do multiplication and division by integer amounts.</p>
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<p><code class="docutils literal"><span class="pre">Issued</span></code> refers to a product (which can be cash, a cash-like thing, assets, or generally anything else that’s
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quantifiable with integer quantities) and an associated <code class="docutils literal"><span class="pre">PartyAndReference</span></code> that describes the issuer of that contract.
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An issued product typically follows a lifecycle which includes issuance, movement and exiting from the ledger (for example,
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see the <code class="docutils literal"><span class="pre">Cash</span></code> contract and its associated <em>state</em> and <em>commands</em>)</p>
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</div>
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<div class="section" id="financial-states">
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<h2>Financial states<a class="headerlink" href="#financial-states" title="Permalink to this headline">¶</a></h2>
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<p>In additional to the common state types, a number of interfaces extend <code class="docutils literal"><span class="pre">ContractState</span></code> to model financial state such as:</p>
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<blockquote>
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<div><dl class="docutils">
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<dt><code class="docutils literal"><span class="pre">LinearState</span></code></dt>
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<dd>A state which has a unique identifier beyond its StateRef and carries it through state transitions.
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Such a state cannot be duplicated, merged or split in a transaction: only continued or deleted. A linear state is
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useful when modelling an indivisible/non-fungible thing like a specific deal, or an asset that can’t be
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split (like a rare piece of art).</dd>
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<dt><code class="docutils literal"><span class="pre">DealState</span></code></dt>
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<dd>A LinearState representing an agreement between two or more parties. Intended to simplify implementing generic
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protocols that manipulate many agreement types.</dd>
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<dt><code class="docutils literal"><span class="pre">FungibleAsset</span></code></dt>
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<dd>A FungibleAsset is intended to be used for contract states representing assets which are fungible, countable and issued by a
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specific party. States contain assets which are equivalent (such as cash of the same currency), so records of their existence
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can be merged or split as needed where the issuer is the same. For instance, dollars issued by the Fed are fungible and
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countable (in cents), barrels of West Texas crude are fungible and countable (oil from two small containers can be poured into one large
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container), shares of the same class in a specific company are fungible and countable, and so on.</dd>
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</dl>
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</div></blockquote>
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<p>The following diagram illustrates the complete Contract State hierarchy:</p>
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<img alt="_images/financialContractStateModel.png" src="_images/financialContractStateModel.png" />
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<p>Note there are currently two packages, a core library and a finance model specific library.
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Developers may re-use or extend the Finance types directly or write their own by extending the base types from the Core library.</p>
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