Hangout #2: Reputation Based Exchange

History

Posted for The Great Currency Debate

by Caroline Smalley and collaborators on Mar 11 2015, last modified on May 09 2015.


The Great Currency Debate Posted for The Great Currency Debate

Comments

Few notes to add:

I see blockchain technology for use in managing metrics i.e. reputation aspect as potentially very good way to go. Love the analogies with Dungeons & Dragons game.

I think we leave the quantitative – 'tangible' exchange value –) up to the seller of whatever product, service of currency they have. This will be influenced by the reputation. Much like on AirBnB. If I'm not a good host, then I need to charge less: one will be influenced by the other. It's the law of attraction at work!

I do not think we should centralize on Bitcoin currency as this has more bias than regular finance, and a big part of intention for bringing together multiple currencies is to build an exchange that evolves with the commons – reference to Art's points here. The intention is to create as much of a decentralised system as possible. CM is meant as a bridge to a new 'Triple Line Economy: Reference Art's Threebles / an economy that considers 3 key dimensions / sets of metrics as opposed to just one.

Excited to see what we can garner from Ethereum!

Next Hangout + How I Envision CM's Exchange To Work

Quote from a comment I just posted on Art's blog: Reputation is Orthogonal to Exchange: thecitizensmedia.com/pub/blog /reputation-is-orthogonal-to-exchange ?id=2667

"Because of the way centralised finance is so inextricably linked to government and corporations, they are able to manipulate each other in a way that reflects the interests of a few. Reflecting the interests of 'the people' or planet is much harder to achieve.

The only way to overcome what is – to put it bluntly – an absurd state of affairs, is through a distributed system of exchange that embeds reputation metrics based on triple line economics: financial; environmental, and; cultural (community) accountability (referred to in our Hangout as the '3 dimensions'). As you mention in your blog, the system will need to instil metrics that seek authentic results.

The exchange system I envision for CM is one that does just this. a) Any distributed currency will be invited into the exchange; b) The metrics of the '3 dimensions' will be comprised of a combination of factors: some automated; some based on a buyer/sellers 'vote'; some regulated e.g. is the product made with local / renewable resources?

As goods and services are meant to increase well being, thinking our next hangout could explore community values. Open sharing spaces seems relevant here. What makes these P2P environments such vibrant places to be? My take is that they facilitate accountability and trust."