November 26th, 2006

smile

Rippleplay

http://ripplepay.com/about/ See also: http://ripple.sourceforge.net/faq.html#realmoney

"Ripple is a monetary system that makes simple obligations between friends as useful for making payments as regular money.Collapse )...You create a profile on the system and indicate who you know and how much you trust them by connecting to people by email address and giving them credit limits. Then whenever you want to make a payment to another Ripple user using only friendly obligations, the system finds a chain of intermediaries connecting you to the person you want to pay, and records the payment in each intermediary's account all the way down the chain. You end up owing one of your "neighbours" on the system, and the payment recipient ends up being owed by one of her neighbours."

via crasch

***

Funny idea. Too early for that IMO. But I do believe that a future of the Internet is not in being anonimous but in being recognizable and responible.

In the networked world we have renewed opportunity for building reputation and afterwards using it as an asset. Probably it will cure us from some of hyper-centralization ills of XX century.