jdbtracker (OP)
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June 04, 2014, 01:04:49 AM Last edit: June 04, 2014, 01:31:30 AM by jdbtracker |
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I figured I may as well say how to accomplish this.
We have the technology, first off you need a few ingredients:Secure distributed public private database(Blockchain),Secure Communication system Bitmessage, Secure financial system(Open Transactions), Identity verification(Digital Signatures), smart phones(lots of them), Contracts database and products to create receipts for.
The main component is to have a working Smart phone system, preferably compatible with Android and Firefox OS. Mozilla is pushing hard to put handsets in the hands of every human being on earth, with their $25 smart phones; they'll drive Android phone prices down further increasing the speed of adoption. Firefox OS' hardware is fully unlocked, creating amazing possibilities to emerge. This system will have the ability to create accounts for people, emphasizing real names and identifying information for each person to develop their online reputation. It will be able to create bar codes for products, services that will be uploaded to the Contracts Blockchain, allowing the Individual or Business to transfer ownership, through digital signatures, to customers; creating digital receipts in the process. Once both parties have signed and agreed to the contract or exchange, the bitmessage system will update both parties, creating private databases that can only be revealed by the corresponding digital signature; You can unlock your private ledger for auditing purposes to others, and only to those individuals you authorize to view specific information. It will have a database of contracts for people to agree upon like: Rental contracts, Receipts, Ricardian digital Contracts, Business agreements, property agreements, time shares, etc, if you can think it, it can be added. With a strong API other programs can call in, use the program as they become available; This will be necessary since it's only at the beginning stages and we can't predict what people will create, so an API assures relevant info can be linked to the program to access those programs. I'm thinking of linking digital contracts with accounting software, or any commercial software(Till, ATM, Credit Card programs, bank software, etc); This way if someone defaults on their contract it can immediately be adjusted or final account could be settled. The accounting system would be secured by Open Transactions. It would issue the receipts and update the proper blockchains for each account and coin used at the end of the day, just doing a final tally in Bitcoin/Litecoin etc; This would have the effect of slowing down the growth of their respective Blockchains. It would also increase the ceiling cap for the transactions per second limit... now it would be limitless. Monetas the Open Transactions app already has Bitmessage integrated making it easy to transfer messages, custom versions of Bitmessage could also be used to expand functionality.
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