Two p2pIOU projects mentioned on the unhosted mailing list

[Andrew Miller]

I'm a big fan of the Unhosted project, the founder Michiel de Jong in
particular is one of my favorite writers. In this thread they consider
a design for a peer-to-peer debt system.
http://groups.google.com/group/unhosted/browse_thread/thread/d88502dab6a5bbe5

A simple sketch/wireframe of their idea is here:
http://opentabs.net/

They posted about an open source project that I haven't seen before,
but it's explicitly based on WAT. The project looks defunct.
http://troco.ourproject.org/

[Sepp]

On Oct 24, 7:24 am, Andrew Miller <socrates1...@gmail.com> wrote:
> I'm a big fan of the Unhosted project, the founder Michiel de Jong in

> particular is one of my favorite writers...

"So instead of
decentralizing money, i think we should decentralize "I owe you..."
letters
(IOUs). IOUs are the fundamental transport layer of economy. On top of
that
is money. On top of that is lending. In fact, bank notes started out
as
written IOUs. What if we define a protocol for IOUs, on top of
remoteStorage. Is there such a protocol already? "

Interesting.

Definitely has relevance to Ripple, which really started out as an
idea to use IOUs as a currency.

Anything that defines and standardizes the production and use of IOUs
would seem to have great relevance here.

I think the basic idea of IOUs in Ripple gets kind of lost in these
technical discussions of how to transfer debt through the chain...

Sepp

[Jorge Timón]

I don't really understand what their project will have that ripple doesn't.
Probably we're forking efforts unnecessarily.

2011/10/25, Sepp <se...@lastrega.com>:

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[Apostolis Xekoukoulotakis]

For me It is important to find other ways to decentralize iou except the use of social relations like in ripple. Any such effort is welcome. But it seems to me that they havent found a way to decentralize iou. 

I have given some thought on what is the best iou contract and i think it should also contain a period under which an iou is valid. Some might be valid forever. Other could be like a theatre ticket which is only valid one specific hour of a specific day. You also need to write the geographic area in which it is valid. 

Apart from those 2 informations, I guess all other information would be in the form of text, and the accuracy of the text will also determine its value.

I am a big proponent of iou.

2011/10/25 Jorge Timón <timon....@gmail.com>

--

Sincerely yours, 

     Apostolis Xekoukoulotakis

[Ryan Fugger]

2011/10/25 Jorge Timón <timon....@gmail.com>:

> I don't really understand what their project will have that ripple doesn't.
> Probably we're forking efforts unnecessarily.
>

Ripple is a way of making multi-hop payments through IOU networks.
Another kind of IOU network is great because it gives another
accounting framework that Ripple can be implemented on.

Ryan

[Thomas Sherlock]

Consider Webisteme's punkmoney: http://www.webisteme.com/blog/?p=735

[Jeffrey Cliff]

No kidding.  Just watched a video

http://vimeo.com/79024018

and

* Not one mention of Ripple so far
* It really does seems we're 2 years into duplicating efforts

2011/10/25 Jorge Timón <timon....@gmail.com>

[Michiel de Jong]

Hi, and sorry for the (very) late reply!

I found this thread while researching for my blogpost about "Network Ledger Technology" projects:

https://michielbdejong.com/blog/21.html

It's amazing how projects like Interledger, LedgerLoops, TrustlinesNetwork, SettleNetwork, and LightningNetwork all have things in common with Ripple Classic.

This mailing list is also a great archives of links to projects researching the idea of transfering money without moving money, and there are a lot of topics I would like to  discuss with likeminded people. But it didn't feel right to reuse this mailing list to start new discussions, especially for topics that are not about RipplePay or Ripple Classic specifically, so I created a new mailing list called "Network Money" that is not tied to any particular project, but can hopefully help to foster the flow of knowledge between projects in this field. Hope to see you there, please subscribe and say hi!

Cheers,

Michiel.