From: Melvin Carvalho <melvincarvalho@gmail.com>

Date: Thu, 27 Sep 2012 11:09:53 +0200

Message-ID: <CAKaEYhL8H-bbwbt5gdmvQu+WXK64r_fP5dk2XfwhO_pJojEo-A@mail.gmail.com>

To: Andrew Miller <amiller@cs.ucf.edu>

Cc: Web Payments <public-webpayments@w3.org>

Date: Thu, 27 Sep 2012 11:09:53 +0200

Message-ID: <CAKaEYhL8H-bbwbt5gdmvQu+WXK64r_fP5dk2XfwhO_pJojEo-A@mail.gmail.com>

To: Andrew Miller <amiller@cs.ucf.edu>

Cc: Web Payments <public-webpayments@w3.org>

On 23 September 2012 18:40, Andrew Miller <amiller@cs.ucf.edu> wrote: > The relationship between Trust, the Web, and Payments is profound and > deep, and Ripple is the clearest expression of this idea. The > important thing to realize is that trust is inherently a weblike > structure. Trust is subjective and indirect. I'm going to describe the > general structure of the social graph, and explain how you get > different forms by choosing the semantics of the edges. > > Consider a family of directed weighted graphs sharing the same nodes, > where each node represents a persona - either a 'real identity' or a > pseudonym. Since the graphs share the same nodes, they differ only by > the edges. So by a 'family of graphs', I mean that each graph is like > an overlay of links between the same set of nodes. In each case, an > edge between a pair of personas represents some kind of direct > relationship between the two. Given one of these graphs, and a pair of > nodes/personas, what we are usually interested is observing a 'flow' > of some kind, the sum of all weighted paths from A to B. > > In one overlay, each edge represents a credit line, where the weight > is the credit limit. The flow from one person to another represents > the total available credit to use as a payment. In another overlay, > each edge represents an 'outstanding balance', or a debt - credit > limits that have been exercised. These two overlays together are > Ripple, which allows payment through indirect credit on a web. Also > see "Liquidity in Credit Networks" http://arxiv.org/abs/1007.0515 > > In another overlay, each edge represents that one person has > diligently validated the identity of another. In another overlay, each > edge represents an assessment that a persona is trustworthy to perform > such diligent checks. These two overlays together are the PGP web of > trust, which is useful for validating identities with no central > administration. > > In a slight variation of this, the edges represent trust in the > responsible trading behavior of each person. Now we are talking about > a reputation graph like Bitcoin-OTC. For an illustration, see > > http://serajewelks.bitcoin-otc.com/trustgraph.php?source=nanotube&dest=amiller > > In another overlay, each edge represents an 'insurance bond' where one > person vouches for the other. The flow from A to B represents the > amount of insurance payout that A could collect if B misbehaves. This > graph is TrustDavis. > http://www.cs.ucdavis.edu/~defigued/index_files/trustdavis.pdf > > Do you see that these are all inherently the same kind of weblike > structure? It's disappointing that OpenTabs, for example, scopes > itself out of the potential to express indirect relationships, since > the credits are strictly limited to the two people who initially > interacted with each other. As another example, eBay has a seller > reputation, but it is global rather than weblike, and therefore also > cannot express indirect trust. Bicoin-OTC is weblike, eBay ratings are > not. Ripple is weblike, OpenTabs is not. Let us build more weblike > things! > I've been reading through trust davis and it remind me of network theory. In particular min flow, max cut. http://en.wikipedia.org/wiki/Max-flow_min-cut_theorem The overlay idea is exactly what I have in mind. Additive information can only be a good thing. So you have two ideas. 1. Reputation Footprint 2. Trust Inferences I think it makes sense to decouple the two? > > On Sun, Sep 23, 2012 at 8:28 AM, Melvin Carvalho > <melvincarvalho@gmail.com> wrote: > > I'm starting to think more and more that payments and trust go hand in > hand. > > > > This is especially true when you are establishing credit limits for > issuing > > new money. > > > > Has anyone had thoughts on this topic? > > > > > > -- > Andrew Miller >Received on Thursday, 27 September 2012 09:10:22 GMT

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