Web Credits -- Electronic Cash for the Read Write Web

I've been working on an electronic cash system that's
oriented to the read write web

The spec is available at:
http://webcredits.org/

The main properties:
 Using web standards to read to get balances
 Creating and sending coins via the HTTP protocol
 Varied strategies to prevent race conditions
 Potential Trust overlays, starting with zero trust
 Participants can be named or anonymous
 New credits can be made using the semantic web

The project is currently in design phase with the aim to build early
prototypes by the new year

Please feel free to pop in to #webcredits on freenode if you would like to
particpate