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Re: [decentralization] "Contact"

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  • Andrew McMeikan
    ... Just a FYI I know bit-coin is all the rage, but I have written PKTP, the Public Key Transaction Processor. While still a work in progress it is
    Message 1 of 2 , Feb 9, 2011
      >
      > New net-based currencies and transaction networks
      Just a FYI

      I know bit-coin is all the rage, but I have written PKTP, the Public
      Key Transaction Processor. While still a work in progress it is
      operational. Transactions are based on transferring precious metals
      from one key to another, this can be by very human readable clear
      signed transactions or signed and encrypted ones.

      Since keys are pseudonymous at best, there are also vouchers that
      act as (non-blinded) bearer instruments as well as other ways of
      breaking history.

      PKTP is not fully distributed but supports multiple vaults so that
      risk of seizure or attack can be limited as well as reducing
      individual storage difficulties.

      Since each vault store a small amount of metal no transaction or
      storage fees are needed with operating profit provided by expired
      vouchers and keys. Each key can have a next of kin key specified so
      lost passphrases or expired keys do not have to be a disaster.

      Not everyone loves gold or silver as money so there is also support
      for users to issue arbitrary shares. These might be for a national
      currency, fundraising or whatever and ae only backed by the key of
      issue. Payment of dividends to shareholders are supported.

      A fancy automatic exchange was planned but is turning out to be
      longer in development time than anticipated.

      Feedback always welcome...

      cya, Andrew...
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