Multiplication over time to facilitate peer-to-peer barter relationships

Kenji Saito, Eiichi Morino, Jun Murai

研究成果: Conference contribution

8 被引用数 (Scopus)

抄録

A peer-to-peer complementary currency can be a powerful tool for promoting exchanges that make use of under-utilized computing resources in a trusted way. i-WAT[11] is a proposed such currency based on the WAT System[16], a polycentric complementary currency using WAT tickets as its media of exchange: participants spontaneously issue and circulate the tickets as needed, whose values are backed up by chains of trust. i-WAT implements the tickets electronically by exchanging messages signed in OpenPGP[3]. This paper proposes an extension to the design of i-WAT to facilitate trades. In particular, we propose additional "multiplication" tickets whose values increase over time. By deferring redemption of such tickets, the participants can receive the premium realized by increased debts of the issuers. A game-theoretical analysis shows that this feature is incentive-compatible: the issuers have no reason to strategically default despite the increased debts. A reference implementation of i-WAT has been developed in the form of a plug-in for an XMPP[5][6] instant messaging client. We have been putting the currency system with the proposed feature into practical use.

本文言語English
ホスト出版物のタイトルProceedings - Sixteenth International Workshop on Database and Expert Systems Applications, DEXA 2005
ページ785-789
ページ数5
DOI
出版ステータスPublished - 2005 12 1
イベント16th International Workshop on Database and Expert Systems Applications, DEXA 2005 - Copenhagen, Denmark
継続期間: 2005 8 222005 8 26

出版物シリーズ

名前Proceedings - International Workshop on Database and Expert Systems Applications, DEXA
2006
ISSN(印刷版)1529-4188

Other

Other16th International Workshop on Database and Expert Systems Applications, DEXA 2005
国/地域Denmark
CityCopenhagen
Period05/8/2205/8/26

ASJC Scopus subject areas

  • 工学(全般)

引用スタイル