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For short, Geek Credit is a digital complementary currency for internet. It is decentralized, secure, interest and demurrage free. It is backed by mutual credit (time). There is no central issuing and control authority, so it is a true peer-to-peer currency. It is a digital form of http://www.watsystems.net local currency system that is used in Japan.

Geek Credit home page: http://home.gna.org/geekcredit/

The main design goals for Geek Credit system are:

- to make it as simple as possible, share the complexity between user agent and policy. no network protocol involved, its possible to use it offline, with e-mail only or even using fax and scanner.

- p2p, nearly impossible to destroy a working system; does not require a central authority to operate; viral distribution, it is not needed to register or open an account to start using Geek Credits.

- open source(GPL) implementation and open documentation, this promotes trust, Geek Credit pocket reference code is less than 1KLOC of well documented Python.

- policy centric, i.e. the Geek Credit system is essentially a policy, system security does not rely on the security of the software implementation. It is pointless to hack a Geek Credit pocket software.


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Last edited April 15, 2004 2:02 am by rol111.rol.kis.ru (diff)