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How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill PunkMoney.org.

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Presentation on theme: "How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill PunkMoney.org."— Presentation transcript:

1 How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill PunkMoney.org

2 #PunkMoney #PunkMoney is a promise currency anyone can create, transfer and redeem on Twitter.

3 #PunkMoney I promise to buy you a beer. #PunkMoney”

4 #PunkMoney I promise to buy you a beer. #PunkMoney” A recipient A promise A hashtag An issuer

5 #PunkMoney It also has a timestamp and a unique ID (created by Twitter.)

6 #PunkMoney There are also some optional rules…

7 #PunkMoney I promise to buy you a beer. Expires in 1 week. NT. #PunkMoney” An expiry Non-transferable

8 #PunkMoney This syntax tweet #PunkMoney. What now?

9 #PunkMoney Beer time…

10 #PunkMoney Bob enjoys his beer, so he redeems Sally’s promise.

11 #PunkMoney He does this by favouriting Sally’s original tweet…

12 #PunkMoney This gesture is a public way for Bob to say ‘thanks’ for his beer.

13 #PunkMoney An alternative scenario Bob doesn’t have time to go for a beer with Sally. He suggests that he take Alice out instead.

14 #PunkMoney So he transfers Sally’s promise to Alice.

15 #PunkMoney #PunkMoney” (in reply to Sally’s promise) The word ‘transfer’ The issuerA recipient A hashtag The bearer It’s a reply to the original tweet

16 #PunkMoney The system depends entirely on trust. How do you make this visible?

17 #PunkMoney Users can create a Twitter list, called punkmoney-trusted, and put the people they trust in it.

18 #PunkMoney The overlapping lists can be crawled and represented as a trust-net. This shows us who trusts who.

19 #PunkMoney #PunkMoney is defined by a set of simple protocols and gestures. Nobody owns them, and anyone can use them.

20 #PunkMoney However, it gets difficult for users to keep track of all of this using Twitter alone (although it is possible.) We need a way to track and record #PunkMoney activity.

21 #PunkMoney The #PunkMoney Tracker is an open source tool which anyone can deploy to a live server. It collects tweets with the #PunkMoney hashtag, interprets and records them.

22 #PunkMoney It makes it easy to find out about and follow the history of any #PunkMoney promise.

23 #PunkMoney It also features a printer, for conveniently creating #PunkMoney statements.

24 #PunkMoney Finally, the TrustNet provides a nodal graph of the current state of the #PunkMoney trust network.

25 #PunkMoney #PunkMoney has some special characteristics as money…

26 #PunkMoney It is fully decentralised. There is no authority for issuing it, or for authorising and recording transactions.

27 #PunkMoney It has no unit of account. It’s designed to encourage the flow of gifts, rather than market-based transactions.

28 #PunkMoney It does not have very strong security – a user’s identity is only as safe as their Twitter account. It is casual money.

29 #PunkMoney The #PunkMoney tracker is under active development, and has a growing numbers of users and supporters.

30 #PunkMoney The vision is of a fully decentralised money network for friends, communities and movements.

31 #PunkMoney Thanks.

32 #PunkMoney References Mauss, Marcel, 1929, The Gift Graeber, David, 2011, Debt : The First Five Thousand Years Articles on #PunkMoney #PunkMoney is Bartering in the Twitter Age, D-Build.orgD-Build.org #PunkMoney Pilots an Alternative Currency Using Twitter, Dowser.orgDowser.org #PunkMoney: How to Print Money on Twitter, Webisteme.comWebisteme.com Find out


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