A Commodity-Narrative Two-Layer Model of Money and Value Media

This research note proposes a Commodity-Narrative Two-Layer Model for analysing and designing money and other value media. The model represents a value medium as M = (C, N), where C is a Commodity Layer supporting exchangeability, valuation, settlement, and fungibility, and N is a Narrative Layer containing separable contextual dimensions such as subject, purpose, relation, region, history, and contribution. Rather than reintegrating these dimensions into a single currency, score, or platform, the framework introduces selective reconnection: ordinary exchange can operate primarily through the Commodity Layer, while authorised narrative information can be referenced when relevant. The central design principle is therefore not reintegration, but reconnection while preserving functional independence. The paper presents the formal core of the model, its relationship to existing research on the social meaning of money and digital-currency programmability, key design principles, potential risks, and a research agenda for interoperable digital value systems. Version 0.1.