“How to best transcend the current economic mess? Put Jeff Bezos, Pierre Omidyar, Elon Musk, Tim O’Reilly, Larry Page, Sergey Brin, Nathan Myhrvold, and Danny Hillis in a room somewhere and don’t let them out until they have framed a new, massively-distributed financial system, founded on sound, open, peer-to-peer principles, from the start. And don’t call it a bank. Launch a new financial medium that is as open, scale-free, universally accessible, self-improving, and non-proprietary as the Internet, and leave the 13th century behind.
In essence, I agree with the piece and the comment.
I also believe that the Chagora model is very close to what they are talking about… (it can function with standard and/or newly created currencies whether localized or not. Especially when combined with methods of geographical localization and scaled anonymity. The practical microtransaction in all areas is essential for proper scaling of civilization and its the political microtransaction (networked citizen lobbying) that is the trigger.
P.S. PayPal is a bad model for civilization development.
(Chagora is essentially scalable speech and association)
If I’m an idiot I’d like to find out soon since things are very tight. I’d like at least a chance to present my case and don’t know where else to go.
See blog for more...
http://culturalengineer.blogspot.com/2009/05/foundations-of-...