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the challenge is to create a unit of account, platform, framework/protocol and generally acceptable instruments (currency) which combine credit, utility and trust.

are there no systems out there yet like this, even in development or theory?

(i am guessing Ripple.org does not fulfill the criteria)

Point n'est besoin d'espérer pour entreprendre, ni de réussir pour persévérer. - Charles le Téméraire

by marco (cowannar at gmail punkt com) on Sun Jan 6th, 2013 at 07:26:17 AM EST
Well, after about ten years' work I reckon I can see all the necessary elements, and more to the point, a way to implement a generic system by bringing them all together.

I first posted here on Ripple getting on for four years ago and I think that a Circular Multilateral Barter (CMB) application of Ripple is key.

What CMB does is to generate - within a community of interest/trust framework agreement - settlement chains of bilateral obligations A>B>C>D>E>A to be 'netted out'.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Jan 6th, 2013 at 09:40:22 AM EST
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