For the Love of Money

Earthbound

Fri Mar 10 07:04:08 2006 – Indisputable, forge & thief proof ownership

Indisputable, unforgeable, thief proof ownership is an untapped ramification inherent in public-private key encryption technology. This leads to a simple obvious means for us to realize wealth while advancing security, dignity, and freedom. In view of what passes for money today, there is good reason to expect that rational empowering alternatives could be embraced. The advancement of this hope is the raison d’être for this blog.

Our blog's named Monetize - yet my impetus is not to personally monetize anything. I believe that mankind's second greatest invention is money - however I know of no national currency worthy of endorsement. The values driving the free software movement directly expedite liberation from grievous fallacies - nevertheless a straightforward means to reward avant-garde warriors is patently lacking.

So here is the plan. Let's say that you wish to recognize some particularly deserving individual. You simply write up your thoughts (or offer) and then sign the text using your private key. Next you send this to your recipient. If this person wishes to take ownership of your gesture, they will then verify your signature and sign the whole thing using their private key. Next this file with it's uniquely identifying name (UID) is posted to a highly accessible public data base (GRW). These simple actions have created a mutually agreed upon ownership that is indisputable, unforgeable, and thief proof. And while nothing has been monetized as yet, a fertile robust stage has certainly been set to do so. The file will be effectively monetize as soon as it changes ownership for some consideration (with no limit to the number of times this could occur).
    The original text you created could have been a mere compliment or something more substantive like a redeemable coupon - it's only limited by our collective imagination. For instance, one could easily grant interest in an enterprise, or you might just write to a performer and promise to buy a ticket when they do a concert in your city. If said performer collects (becomes owner of) sufficient numbers of these endorsements, then the raw appreciation of their fans could be literally bought up by a promoter who'll sponsor a concert in return for having the commitment of hundreds or thousands of fans in advance. Look here for more thoughts along these lines.
    Now before something like the above could become a big reality we'd be looking at a google size data base with an enormous amount of traffic. This would insinuate the participation of 3rd party service providers to make the process readily available to the masses. Long before that however, a great service could be bestowed upon the more technically inclined who will be responsible for fueling the initial popularity and advancement of this new freedom based form of ownership & monetization.

While e-currencies are great and also build upon the same basic technology, I am NOT proposing that this idea should participate in that arena per se. This is not about transactions as such. So the stress is not on e-commerce, but instead on directly monetizing wonderful things such as talent, appreciation, and precious time. And again we are using “monetize” in the pure sense where the value you bring to the table embodies the moral money that buys you freedoms of choice and bold new possibilities (as opposed to being encumbered with 3rd party dollar dilemmas).

Details concerning evaluations, potential contractual arbitration, etcetera is not the responsibility of the core system maintainers to dictate. Instead these issues will evolve as participants and 3rd parties forge out solutions optimal for those concerned.

Fri Mar 10 18:05:30 2006
Money Bags.jpeg

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