New idea about exchange

[VSF-29]

Hi all,

I would like to submit to all an idea.

The rules are simple:
- Everybody can issue money (an escalar amount ,..universal money lets say) ( at any time, without limit). That amount is accepted by others as payments (if they will) , and the amount is obviously negotiated.
- You cannot issue money to pay yourself. Your local balance can only go up ( towards positive) if somebody else pays you.

Constraints:
- The whole world society must sum 0.(always). When somebody dies..its balance [+] or [-] must be shared someway among the living nodes to restore the global balance.(To discuss)
- In order to not cheat the system every transaction must be public and distributedly controled. So the global local balance of every node muts be public. The details of each local balance is made public by the node if it wills to do so.


When a node issues money to buy something from other its  local balance is decreased by the amount created.
Net balance [+] you have done something for the others
Net balance [0] your are balanced
Net balance [-] you have net income from others.

Do you find positive the idea? what are the drawbacks ? What about its implementation with ripple, bitcoin etc..technologies?


Thanks
Victor

[Jorge Timón]

I would recommend you to read the old and the new ripple wikis:

http://archive.ripple-project.org/
https://ripple.com/wiki/Main_Page

Ripple is similar in many senses to what you're saying.

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Jorge Timón

http://freico.in/

[VSF-29]

Ok thanks Jorge