2014-11-12http://bitcoinmagazine.com/17969/an-interview-with-little-duke-founder-and-developer-of-idcoins/2014-10-17
The project met its initial minimum fundraising goal on StartJoin 17 days early!
* FOR IMMEDIATE RELEASE *
This project has now been picked up by the Strength in Numbers Foundation, a registered Non-Profit in Minnesota, USA.
http://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=709acaa6-f929-e411-bfac-001ec94ffe7f~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
This is a StartJoin.com Project at the moment and I'm looking for feedback:
http://startjoin.com/idcoinWebsite redirects to Github:
http://www.idcoins.orgTwitter @IDCoins
http://twitter.com/IDCoinsFacebook
http://facebook.com/IDCoinsIDCoinIdentity and Reputation Cryptocurrency Coinbase Supporting a Web of Trust
This is an exploratory concept Bitcoin-like system based in part on GPG/PGP with a Degrees of Separation Web of Trust as well as reputation based on txfee's to be paid to miners.
Gathering feedback right now at
https://startjoin.com/IDCoinA Coinbase for Identity and ReputationIDCoin will be designed to be an 80/20 Proof of Stake / Proof of Work based blockchain that will establish both Identity as well as Reputation in a public ledger.
The generation and addition of a GPG/PGP key will suffice as the "proof of work" as well as the "key signing" of other members keys. The system will be designed to award coins based on addition of validated keys, the signing of additional keys to build out the Web of Trust.
We are essentially creating a single system of record for GPG & PGP keys.
Reputation will be leveraged through transactions, whereby Transaction Fee's will be used to "vote with your coins."
Feedback can easily be calibrated based on the identity of the individual leaving it -- we can work to make a "neutral" rating safe again as compared to the "grade inflation" we see in markets like Ebay where everyone is essentially shamed into providing only positive feedback.
You would be able to determine with a high degree of confidence WHO the identity of an individual (or autonomous computer system) is -- you could also see what kind of reputation they had. What do people think about them based on their transactional history. If you are a counter-party to a transaction you should have the right to express your sentiment without fear of censure. Think about every time you go through a drive-thru to get food or coffee. Is every experience really a five-star? With IDCoin you could simply acknowledge that you had an experience that was neither positive nor negative.
With IDCoin you could instantly determine if someone's +5 rating actually meant anything especially if they gave everyone +5. You could instantly baseline the feedback.
With a Web of Trust model you could choose to transact with people and business that are say only within 3 or 4 degree's of separation. In this way you could completely detect and ignore any asto-turfing.
IDcoin is different than
http://identifi.org in that it will be based on PGP/GPG and will work to create plugins to support email clients. In this way you could generate coins just by sending an encrypted email.
IDcoin will also differentiate itself from Namecoin (NMC) though we would absolutely look at ways to potentially leverage it as well. The general problem with block-chain based approaches is the current need to have clients download and maintain their own copy. This should absolutely be an OPTION but not a hard REQUIREMENT -- we conceive of a model through the Web of Trust that you could elect to essentially ATTACH to any public node that has a sufficient level of TRUST associated with it based on your own own level of confidence within whatever degrees of separation you're willing to permit. In this way the system supports a variant of check-pointing.
In fact our current design allows you the ability to link a TXID from any other blockchain into the web-of-trust -- so if you spend Bitcoins with a vendor you can link that TXID AND your feedback into the chain.
In our IDCoin model Web of Trust, you could leverage Notary Publics who have been DEPUTIZED by institutions you find credible to perform key-signing services. For example, we conceive of a system that would support say Rotary International to use our system as a public ledger for their membership roster. In fact with our IDCoin ANYONE could obtain and demonstrate AFFINITY with any organization they so choose to. It can act as a TRANSCRIPT or a RESUME/CV -- your company could digitally acknowledge that you are an employee from some period of time. Your performance could be logged if you so choose to use it that way.
IDCoin could be used to take credit for ANY transaction in any other blockchain. Our current designs include the ability to insert FOREIGN_TX into the chain that would include CHAIN and TXID. From there you could find the ADDRESSES and AMOUNT. Of course you would have to take credit for an address first -- this OPT-IN method completely de-anonymizes the crypto-currency transaction which may be required in the future by some financial institutions.
Show Posts
