From: Todd Boyle [tboyle@rosehill.net] Sent: Wednesday, May 24, 2000 10:58 AM To: gnue@gnu.org Cc: Digital Bearer Settlement List Subject: FW: Magical transaction fabric for webledgers [to: freenet-chat@lists.sourceforge.net] Hi guys, I am a CPA and independent web accounting consultant and evangelist. I maintain a free info. website you might enjoy. I want you to build an ecommerce platform based on freenet. Basically, individuals and small business will send and receive invoices, orders and payments over the internet instead of printing and mailing. The question is yours: will this be geodesic or will we be paying rents to hubs and gatekeepers the next fifty years, like we are with the telcos and the banks? Based on about 5000 hours of research I believe the commercial webledgers will be so numerous and functional, the fees and rents will be low, and the banks etc. will be a laughingstock, in comparison. If you're curious here is a list of webledgers and other BSPs http://www.gldialtone.com/links.htm But every ecommerce platform in existence or on the drawing board is still a book-entry system on a server someplace, (except some of the digital bearer cash discussed on www.philodox.com DBS mailing list) The ideal ecommerce environment would be a "magical transaction fabric" in the sky, where we will find bids and offers with zero friction, conduct business in utter safety and privacy, and where all transaction data would be stored with total reliability and redundancy but decentrallized, with the encrypted bits dispersed among countless trillions of other transactions and millions of servers, impossible for anybody except the principle parties to retrieve, and impossible to lose, yet retrievable with your key anytime. (translation: I have discoverd http://freenet.sourceforge.net/ (grin)) When you start using the magical transaction fabric, the data sizes and bandwidth assigned to your computer by the fabric would be stored based on the data sizes and bandwidth you are loading onto the fabric with your business. If you unplug your computer the fabric would detect it and start repairing the lost hash by shovelling it out to nearby nodes. The fabric would punish you by increasing your datasizes and bandwidth next time you login, eventually killing you if you keep doing it. The internet evolution is quite young. Entire new network protocols, storages and business models will emerge. They will not be "sticky". They will replace the entire ediface of todays hierarchic corporation and state, * Todd F. Boyle CPA http://www.GLDialtone.com/webledger.htm * tboyle@rosehill.net Kirkland WA (425) 827-3107 * XML accounting, WebLedgers, ASPs, GL dialtone, whatever it takes