Web Credits Writeup

Here's a quick writeup of what I previously posted as the opentabs
protocol.  I've codenamed it 'Web Credits' for now and put it on the
wiki.

Introduction
==========

Web Credits is an ultra simple system for storing and transferring
IOUs (credits) between agents.

*The aim of this spec is not to exceed 2 pages*, be usable to create
distributed payments, and arbitrarily extensible to add encryption,
workflow, trust and aggregation systems of your chosing.

95%+ of the money in the world is in the form of an IOU. A bank
balance is an IOU from the bank to you, Cash is often an IOU from a
govt. to an individual.

The protocol is inspired by the Linked Data and PaySwarm standards,
and is a usable subset that focuses on the data layer (JSON) and
communication to apps (HTTP).

[Read More]

http://webcredits.org/

Received on Friday, 20 January 2012 19:47:35 UTC