No risk is unsafe: Simulated results on dependability of complementary currencies

Kenji Saito, Eiichi Morino, Jun Murai

研究成果: Conference contribution

2 被引用数 (Scopus)

抄録

Efforts have been put for electronization of complementary currencies (alternative forms of monetary media) in the hope that it would reduce their operational cost. However, this paper argues that the problem is more inherent in the core design of MCS[7] (Mutual Credit System), the most common form of complementary currency today. By simulating a small world of 2,500 traders, we show that growing the number of free-riders in MCS has a paradoxical effect of increasing "welfare" (a "happiness" metric) of the community. Since there is no pressure to stop the growth of the bad users, it is difficult to sustain the soundness of the system without strong interventions from the operators of the system; we need alternatives to the alternatives. We have proposed i-WAT[6] as an electronic descendant of the WAT System[10], a polycentric complementary currency using "WAT tickets" as its media of exchange. A simulation using the same model as above indicates that i-WAT users can sustain barter relationships even in the presence of free-riders by natural evasive actions to avoid risks.

本文言語English
ホスト出版物のタイトルProceedings - First International Conference on Availability, Reliability and Security, ARES 2006
ページ701-708
ページ数8
DOI
出版ステータスPublished - 2006 11月 17
イベント1st International Conference on Availability, Reliability and Security, ARES 2006 - Vienna, Austria
継続期間: 2006 4月 202006 4月 22

出版物シリーズ

名前Proceedings - First International Conference on Availability, Reliability and Security, ARES 2006
2006

Other

Other1st International Conference on Availability, Reliability and Security, ARES 2006
国/地域Austria
CityVienna
Period06/4/2006/4/22

ASJC Scopus subject areas

  • 工学(全般)

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