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How to Print Money on Twitter Digital Money Forum, London 28 th March 2012

How to Print Money on Twitter Digital Money Forum, London 28 th March 2012 Eli Gothill (@webisteme) PunkMoney.org. #PunkMoney. #PunkMoney is a promise currency anyone can create, transfer and redeem on Twitter. #PunkMoney. “ @Bob I promise to buy you a beer. #PunkMoney ” – @Sally.

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How to Print Money on Twitter Digital Money Forum, London 28 th March 2012

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  1. How to Print Money on Twitter Digital Money Forum, London 28th March 2012 Eli Gothill (@webisteme) PunkMoney.org

  2. #PunkMoney #PunkMoney is a promise currency anyone can create, transfer and redeem on Twitter.

  3. #PunkMoney “@Bob I promise to buy you a beer. #PunkMoney” – @Sally

  4. A recipient A hashtag #PunkMoney • “@Bob I promiseto buy you a beer. #PunkMoney” • – @Sally A promise An issuer

  5. #PunkMoney It also has a timestamp and a unique ID(created by Twitter.)

  6. #PunkMoney There are also some optional rules…

  7. Non-transferable #PunkMoney “@Bob I promise to buy you a beer. Expires in 1 week. NT. #PunkMoney” – @Sally An expiry

  8. #PunkMoney This syntax makes @Sally’s tweet #PunkMoney. What now?

  9. #PunkMoney Beer time…

  10. #PunkMoney Bob enjoys his beer, so he redeems Sally’s promise.

  11. #PunkMoney He does this by favouriting Sally’s original tweet…

  12. #PunkMoney This gesture is a public way for Bob to say ‘thanks’ for his beer.

  13. #PunkMoney An alternative scenario Bob doesn’t have time to go for a beer with Sally. He suggests that he take Alice out instead.

  14. #PunkMoney So he transfers Sally’s promise to Alice.

  15. The issuer A recipient The bearer #PunkMoney • “@Sally transfer @Alice #PunkMoney” • – @Bob • (in reply to Sally’s promise) A hashtag The word ‘transfer’ It’s a reply to the original tweet

  16. #PunkMoney The system depends entirely on trust. How do you make this visible?

  17. #PunkMoney Users can create a Twitterlist, called punkmoney-trusted, and put the people they trust in it.

  18. The overlapping lists can be crawled and represented as a trust-net. #PunkMoney • This shows us who trusts who.

  19. #PunkMoney • #PunkMoney is defined by a set of simple protocols and gestures. Nobody owns them, and anyone can use them.

  20. However, it gets difficult for users to keep track of all of this using Twitter alone (although it is possible.) • We need a way to track and record #PunkMoney activity. #PunkMoney

  21. The #PunkMoney Tracker is an open source tool which anyone can deploy to a live server. • It collects tweets with the #PunkMoney hashtag, interprets and records them. #PunkMoney www.punkmoney.org

  22. It makes it easy to find out about and follow the history of any #PunkMoney promise. #PunkMoney www.punkmoney.org

  23. It also features a printer, for conveniently creating #PunkMoney statements. #PunkMoney www.punkmoney.org

  24. Finally, the TrustNet provides a nodal graph of the current state of the #PunkMoney trust network. #PunkMoney www.punkmoney.org

  25. #PunkMoney • #PunkMoney has some special characteristics as money…

  26. #PunkMoney • It is fully decentralised. There is no authority for issuing it, or for authorising and recording transactions.

  27. #PunkMoney • It has no unit of account. It’s designed to encourage the flow of gifts, rather than market-based transactions.

  28. #PunkMoney • It does not have very strong security – a user’s identity is only as safe as their Twitter account. It is casual money.

  29. #PunkMoney • The #PunkMoney tracker is under active development, and has a growing numbers of users and supporters.

  30. #PunkMoney • The vision is of a fully decentralised money network for friends, communities and movements.

  31. #PunkMoney Thanks. www.punkmoney.org

  32. References Mauss, Marcel, 1929, The Gift Graeber, David, 2011, Debt : The First Five Thousand Years Articles on #PunkMoney #PunkMoney is Bartering in the Twitter Age, D-Build.org #PunkMoney Pilots an Alternative Currency Using Twitter, Dowser.org #PunkMoney: How to Print Money on Twitter, Webisteme.com Find out more @punk_money www.punkmoney.org www.facebook.com/punkmoney #PunkMoney

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