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Webisteme This is my second post on defining a trust metric for Ripple, or in fact any peer-to-peer credit network which relies solely on trust. In my last post, I looked at a simple approach based on measuring the average ratio of credits and debts for a user. While this wasn’t a bad start to thinking about the problem of trust in general, it suffered from being too simple (I’ll explain why.) In this post, I want to explore a new approach suggested in a comment by Jordan Greenhall, based on measuring trust as a perspectival, probabilistic calculation rather than an inherent property of a node. First, let’s revisit the reasons why a trust metric is so critical for any peer-based credit network like Ripple to scale. Background

ecash In the United States, only one bank implemented ecash, the Mark Twain bank and the system was dissolved in 1997 after the bank was purchased by Mercantile Bank, a large issuer of credit cards.[2] Similar to credit cards, the system was free to purchasers, while merchants paid a transaction fee. In Australia ecash was implemented by St.George Bank, but the transactions were not free to purchasers. In June 1998, ecash became available through Credit Suisse in Switzerland. It was also available from Deutsche Bank in Germany, Bank Austria, Finland's Merita Bank/EUnet,[3][4] Sweden's Posten, and Den norske Bank of Norway.

Time for a New Theory of Money by Ellen Brown By understanding that money is simply credit, we unleash it as a powerful tool for our communities. posted Oct 28, 2010 The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself.

YOOTLES - Social IOU A pdf version of this document is available: Yootles is a system for declaring IOUs between people on a social network. It is designed to allow people to jot down who paid for dinner or other transactions that people often want to but forget to keep track of. But it's useful for much more. It can be used for things like tracking rent payments, sharing utility bills, even tracking interest on personal loans. And it supports non-monetary currencies. Category:Payment systems Articles about ways money can be moved between persons, organizations, and locations, as well as how financial transactions can be executed. Subcategories This category has the following 21 subcategories, out of 21 total. Pages in category "Payment systems" Displaying items by tag: Empty WISERBANKS make more $$ to invest more in social projects || WiserBanks TV : Live Editors' Picks Gurus, Opinions & Nuances

The Blog: Symbionomics Themes What follows is a synopsis of the major themes we are exploring with the Symbionomics project (see kickstarter link on the right). Obviously, this is just a starting point. We are open to these concepts growing and evolving as this process unfolds. Re-inventing finance at Lift12 Last Thursday I had the great privilege of having been invited by the remarkable Laurent Haug to present a snapshot of our vision of the new emerging universe of “digitally native finance” at the wonderful Lift12 conference in Geneva. Twenty minutes is not a long time (and thank goodness Laurent indulged me with a couple minutes more) to convey both the context and the substance of what we believe to be a fundamental shift in the paradigm of the financial services industry, but I hope I was able to give at least a good high-level overview. Most importantly, I hope I was able to convey the excitement we feel at the vastness of the opportunity and the win/win/win (for the customers/companies/economies) available to those who embrace the opportunity for technology-enabled disruption in financial services by introducing them – however superficially I’ll admit – to just a handful of companies who are at the vanguard of this wave of change. (in no particular order) Tweet This Post

5 Reasons NOT to Pay Your Credit Cards Are you one of the millions of Americans trying to decide between paying your credit card bills and eating? John Galt -- Activist Post We live in a matrix that goes to unspeakable expense to nurture us from the teat to be good consumers. You are issued a tax collection number at birth (SS#), another artificial number for your credit worthiness (FICO), and then you're extended a certain amount of tokens to play "life" based on those numbers.

10 Ways You're Being Fleeced by Banks Activist Post Taxpayers are rightfully angrier than ever before about the state of the U.S. economy and the government's handling of the financial crisis; perhaps even more so than the Colonists at the original Tea Party. After all, it appears that the only group benefiting during this painful slide into recession are the very people who caused the crisis -- The Banks. On the verge of bankruptcy in 2008, the banks are now once again making record profits and paying record bonuses, while nearly every other industry struggles to keep their head above water. The banks seem to have designed the system where all businesses and individuals are dependent on them for credit, and without new lending industry grinds to a halt. Given that banks can make risk-free profits by front running the stock market and selling $600 trillion of worthless derivatives for monster gains, there seems to be little motivation for them to lend money at today's record-low interest rates.

The Future of Money: It’s Flexible, Frictionless and (Almost) Free Cash in the clouds—neither paper nor plastic.Illustration: Aegir Hallmundur; Benjamin Franklin: Corbis A simple typo gave Michael Ivey the idea for his company. One day in the fall of 2008, Ivey’s wife, using her pink RAZR phone, sent him a note via Twitter.

The End of Money: Counterfeiters, Preachers, Techies Dreamers Excerpted from Chapter One: The Missionary, from The End of Money: Counterfeiters, Preachers, Techies Dreamers—and the Coming Cashless Society by David Wolman. Copyright © 2012 by the author and reprinted courtesy of Da Capo Press No part of this excerpt may be reproduced or printed without permission in writing from the publisher.Money doesn’t talk, it swears. —Bob Dylan Marco Polo thought the Chinese were out of their minds. Paper money was born in China, perhaps as far back as AD 800. But it was during the Yuan Dynasty, beginning in the thirteenth century, when the sovereign first replaced coins with paper.