A method for conducting monetary and financial transactions in an economy by treating amounts as collections of distinct individual, minimal, and indivisible units of account, each of which has a persistent identity and history throughout its lifecycle. A method is disclosed for conducting monetary transactions on the basis of appending the record of relationship between each individual unit of account and its respective owners throughout the lifecycle of the unit. Further, a method is disclosed for identifying the units in binary computer notation and assigning specific informational content to each unit by designating various sub-sections within the binary identifier of each unit to hold specific information and values relevant to the unit.