Presentation on theme: "How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill PunkMoney.org."— Presentation transcript:
How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill PunkMoney.org
#PunkMoney #PunkMoney is a promise currency anyone can create, transfer and redeem on Twitter.
#PunkMoney I promise to buy you a beer. #PunkMoney”
#PunkMoney I promise to buy you a beer. #PunkMoney” A recipient A promise A hashtag An issuer
#PunkMoney It also has a timestamp and a unique ID (created by Twitter.)
#PunkMoney There are also some optional rules…
#PunkMoney I promise to buy you a beer. Expires in 1 week. NT. #PunkMoney” An expiry Non-transferable
#PunkMoney This syntax tweet #PunkMoney. What now?
#PunkMoney Beer time…
#PunkMoney Bob enjoys his beer, so he redeems Sally’s promise.
#PunkMoney He does this by favouriting Sally’s original tweet…
#PunkMoney This gesture is a public way for Bob to say ‘thanks’ for his beer.
#PunkMoney An alternative scenario Bob doesn’t have time to go for a beer with Sally. He suggests that he take Alice out instead.
#PunkMoney So he transfers Sally’s promise to Alice.
#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
#PunkMoney The system depends entirely on trust. How do you make this visible?
#PunkMoney Users can create a Twitter list, called punkmoney-trusted, and put the people they trust in it.
#PunkMoney The overlapping lists can be crawled and represented as a trust-net. This shows us who trusts who.
#PunkMoney #PunkMoney is defined by a set of simple protocols and gestures. Nobody owns them, and anyone can use them.
#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.
#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.
#PunkMoney It makes it easy to find out about and follow the history of any #PunkMoney promise.
#PunkMoney It also features a printer, for conveniently creating #PunkMoney statements.
#PunkMoney Finally, the TrustNet provides a nodal graph of the current state of the #PunkMoney trust network.
#PunkMoney #PunkMoney has some special characteristics as money…
#PunkMoney It is fully decentralised. There is no authority for issuing it, or for authorising and recording transactions.
#PunkMoney It has no unit of account. It’s designed to encourage the flow of gifts, rather than market-based transactions.
#PunkMoney It does not have very strong security – a user’s identity is only as safe as their Twitter account. It is casual money.
#PunkMoney The #PunkMoney tracker is under active development, and has a growing numbers of users and supporters.
#PunkMoney The vision is of a fully decentralised money network for friends, communities and movements.
#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