Did you ever wish you had absolute powers? And among these the ultimate regal power: the power to mint your own currency? Thanks to Free Digital Money, this is now something within your reach. FDM lets your create your own currency and do things like mint coins, withdraw, deposit and revoke them.
This is currently an experimental project and I hope this will create a lot of brainstorming and cross-pollination. I see close connections with P2PMoney, our open-project at BarCampBank for a payment pooling and revenue sharing platform.
While the notion of private digital currency is not new (cf. Linden dollars), it is interesting to see the outcome such a tool could make by easing implementation in a multitude of novel situations. I was just thinking this morning that it could be fun to see a company use its own internal currency for its internal bargaining processes: I come to your meeting if you pay me 100 Acme dollars. Of course, in that case, internal monetary mass would have to be thoroughly controlled to avoid devastating inflation: invite me to your meeting this week, while you can still afford me.
“I was just thinking this morning that it could be fun to see a company use its own internal currency for its internal bargaining processes’
I know I have some material on this somewhere, but I just can’t remember where. It goes back to the days of DigiCash and CyberCoin where one of the ideas floating around was to save corporate costs by using cash instead of accounting!