Banktrust
From P2P Foundation
Contents |
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Overview
Secure, fast, and easy money transfer from A to B, at the cost of transmission. Trustworthy and transparent design and governance. Banktrusts networked together form the Money Commons.
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Design Fundamentals
- Credits can be saved, but no protected "banks" or accounts that charge or pay interest. Interest between users is discouraged, but not actively policed; at own risk.
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Real World Case Studies
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Paypal
- Not transparent or trustworthy
- Has commerce critical mass, monopoly
- Relatively easy? How could the process be easier for users?
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QQ and QQ coins
- Designed in 2002 in China, QQ coins could be bought with money (yuan) or "earned" through playing games (possible to use games like ESP, peekaboom to capture "human cycles?")
- 2006, total trading volume in virtual items worth about $900 million, 45% of that used to buy Tencent items.
- Developed as parallel currency, government forced to act
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SecondLife
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Currency transfer in most MMOs
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Major Issues and Concerns
- Exchange will happen with other currencies, like it or not (real-money trade, RMT). What problems will this cause? What design considerations are necessary?
- Through what means can people acquire credits? Exchange, projects for the public good? Opting into propertytrust.
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Possible Partners or Friends
A list of sites that should be considered when developing or standardizing a basic banktrust model.
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Credentialtrust - component of Banktrust?
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Purpose:
Anyone or anyplace I interact with only knows the bare minimum needed to identify me for my purpose of use. I control my private information.
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Real World Case Studies
- ??? These examples are particularly weak.
- Sxip
- Steam
