MetaCurrency Orientation by Alan Rosenblith on Prezi. Virtual Money in Electronic Markets and Communities by Levent V. Orman. Cornell University - Samuel Curtis Johnson Graduate School of ManagementJune 7, 2010 ICAST Journal of Institute for Communication, Social Informatics, and Technology, Forthcoming Johnson School Research Paper Series No. 27-2010 Abstract: Money is an information system to value, record, and track economic transactions. It is an information system with minimal semantics and centralized control. Number of Pages in PDF File: 21 Keywords: Virtual Money, Electronic Money, Networked Money, Peer-to-Peer Networks, Semantic Money, Private Money, Decentralized Money, Electronic Markets, Disintermediation Accepted Paper Series Suggested Citation Orman, Levent V., Virtual Money in Electronic Markets and Communities (June 7, 2010).
Interview: How Bitcoin Created a Decentralized Crypto-Currency. Bitcoin is an open source, peer-to-peer electronic currency created by Satoshi Nakamoto and maintained by a small team of developers. As part of what's turning into an ongoing series on the distributed Web, I talked to contributor Gavin Andresen about how the software works. This is a technical overview. If you're interested in an economic or political look at the software, you can read the Wikipedia entry or Niklas Blanchard's essay on the project. Klint Finley: Could you give us a brief overview of what Bitcoin is for the unfamiliar?
Gavin Andresen: Sure. Bitcoin is the first peer-to-peer currency - it is money created by people instead of by a central bank or government. And how does it work? Everybody trying to create bitcoins and everybody trading bitcoins is connected by a peer-to-peer network. The really novel idea is a mechanism for preventing bitcoins from being spent more than once WITHOUT relying on a central authority. Why is that? But what if the IRC server gets shut down? Quantum money from Knots. Peter Shor who developed a quantum algorithm for factoring primes, is now discussing quantum money. Money, either in the form of bills or information on a computer, should be impossible to copy and also should be verifiable as good money when tendered to a merchant. Quantum mechanics may make this possible to achieve with far greater security than can be achieved without quantum mechanics.
Quantum money is a cryptographic protocol in which a mint can produce a quantum state, no one else can copy the state, and anyone (with a quantum computer) can verify that the state came from the mint without sending the money back to the mint. I will present a concrete quantum money scheme based on quantum superpositions of diagrams that encode knots. This scheme is hopefully secure against computationally bounded adversaries. Quantum money from knots (22 pages) If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Featured articles.