Can math based currency digitize Intellectual property ?

Can math based currency digitize Intellectual property, if so can Math Based Currencies Realign Ecosystems with Our Values?

Using math based currencies we now have the ability to create digital models of our economies/ecosystems that can interface with or natural ecosystem to form symbiotic relationships. On an individual level the relationships will be user driven, while on a collective level the ecosystems will influence how the individual relationships evolve.

To achieve this objective lets look at what currency is, currency is an instrument that stores and transmits value. A currency is a function of confidence (if you have no confidence in it has no value), Put another way we can say, currency is a mechanism to store and transmit confidence (if we have a $100 we are confident people will exchange goods and services to the value of $100).

Wile money is used to assist us in quantifying our individual values; it remains a means to an end, but is not the end itself. I.e. $5 might buy you a cup of coffee, but the $5 itself cannot give you the pleasure and nourishment that only the coffee can. This is important, money is merely a means to measure, compare and exchange our different values. What is so revolutionary about math based currencies is the accuracy and efficiency with which they can continually measure and transmit the values within the ecosystem. Up to now insight into the flow of money has been limited; it has been like adding drops of water to a glass, where does the drop go? With math based currency we now are able to see the water molecules, we can observe how the drops disperse and circulate in the glass. In this way currency units can be programmed as they coalesce or disseminate based on the ranking of users values. This is revolutionary it will provide the accurate means by which we can measure their impact in ecosystems.

While programmable currency offers superior efficiency over all traditional ones, there are still several criticisms that should be addressed.

The main criticisms of math based currencies are: -

· What backs the coins

· How many coins are issued

· How the coins are distributed

We would like to propose a system that addresses the issues above, while at the same time provide us with a protocol to measure the values that underpin the transactions occurring by measuring their impact on the ecosystem.

We would like to propose the use of IP (intellectual property) to back or currency.

Let’s refer to our coins as Trinity Coins for the following reasons.

· There are only 3 coins issued (the reason for this will become apparent later)

· The distribution is fractional and hierarchical

· The value of the coins is backed by the relationship of the nested ideas, their perceived values and their actual value to the ecosystem.



This is measured by flagging value attributes to ideas, assigning these to transactions that occur in the block chain and then measuring them. By recording and analysing the various flagged attributes it is possible to understand the relationships between individual and collective values and rank them according to their benefit to the ecosystem.

IdeaCoin is an approach to rewarding IP (Intellectual Property) Using math based currencies like BitCoin.

Challenges

1) How to encourage the sharing of ideas in an open source environment while still rewarding IP.

2) Lower the barrier to entry into the ecosystems without increasing risk/liability.

3) Measure the value of ideas, products and services, build models that reflect this fairly and reward the IP accordingly.

4) Avoid regulation by demonstrating the value in voluntary user driven models that respect, demonstrate and communicate the exchange of user values is more rewarding then those that don’t.

Opportunities

1) Make tools that let ideas collaborate into concepts.

2) Crowd fund the concepts into products and services (this is the arena that Kick-starter and Bank to the Future now operate).

3) Reward ideas based on their downstream application and reflected values by the ecosystem.

4) By servicing the customer’s needs, we can do what Crowd funding is doing to the banking industry to the patent and copyright industries too.

The BitCoin economy makes this all possible via the block chain DNA. We can build apps to facilitate, capture, track and measure IP in meaningful ways, whatever sacrifices are made can be balanced by increased opportunity.

The post length restriction means I cant post the full concept, but here is a link to the full concept http://www.trinitycoin.org/

Thanks for reading

Comments

Sign In or Register to comment.