Idea for a new utility-based non-currency coin
Posted: Tue Feb 11, 2014 5:43 am
Namecoin is the first coin that does something other than be a "coin."
An idea for another useful coin, I think, would be something specifically designed to do all the contracts / notary / deed registration / proof of authorship / proof of identity / proof of authenticity etc.-type stuff that has been discussed for BTC and NMC....you know, the coin that would replace almost every "service" governments all claim to be indispensable to "provide." But would do it in a voluntary, non-coercive, non-bureaucratic and much less expensive way. (Cryptocoins don't require offices, pensions, or men with guns to force you to accept them, and only them, for services.)
Maybe call it ContractCoin or something.
Another use of this could be a sort of non-governmental "trademark." i.e. a hash that would be read from a hologram image imbedded or laser etched into a commercial physical item. Something that would be impossible to counterfeit. Like you could tell if that Rolex really came from the Rolex company by waving your smart phone over it and checking the blockchain. And you could also check to make sure it hasn't been reported stolen by the owner. The owner would register ownership with a trusted source (Rolex, or a trusted third party that people accept, like the BBB).
If the watch is ever stolen, the owner would report it to the manufacturer rather than the police (who usually never find stolen goods). Maybe private detectives could find and return stolen goods based on tracking block chain transactions, and get paid a bounty if the owner wants it back. And if the owner ever sells the watch in a private sale, he could confirm the new owner's ownership in the blockchain.
IDEAL QUALITIES FOR THIS COIN: would be things that would be counterproductive in a money coin, but be very useful for this type of "registering data"-specific blockchain:
--Is designed to be easy to mine (like you could do it forever on a smart phone), and have a massive amount of coins. Possibly a number of coin approaching (for all practical purposes), infinity.
--Is designed to stay extremely inexpensive, like less than 1/5 the current price per coin of one Namecoin.
--Would employ a continually updating system for rejecting transactions by people who abuse the coin....By blocking people who "cybersquat" i.e. patent trolls, people like that). That functionality would would use an updating blacklist. Sort of like PeerBlock does for uTorrent.
The criteria for inclusion in the blacklist would be reached by consensus / group conscience of the coin's creators, with certain perimeters set at time of release. Being added to the list would probably have to be automatic, to keep the decentralized nature, and not have any person, or group of persons, in charge. Because persons could be swayed. Obviously, fixes could be added, but having them have to go through a process would minimize the possibility of corruption in each iteration.
Not sure how blocking would be done, IP address wouldn't be good. Maybe a heuristic combination of sort of AI-inspired features that sniff abuse through traffic analysis / action analysis? I am not smart enough to know how this could be implemented, but I know there are people on this board who could do it.
--Is designed to be able to store massive amounts of text, and have the ability for users to add unlimited namespace or element tags. So you could set up a program that could pick which parts of the blockchain it would download.
--Is designed to be easy to edit and fork. So other people could make new versions of it if they came up with a new function or feature that this coin's team doesn't want to implement. Or wants that new feature quicker than the team for this coin feels like coming out with updates.
--etc.
Also, how about calling the smallest unit of this coin a Biolizard? lol.
MWD
An idea for another useful coin, I think, would be something specifically designed to do all the contracts / notary / deed registration / proof of authorship / proof of identity / proof of authenticity etc.-type stuff that has been discussed for BTC and NMC....you know, the coin that would replace almost every "service" governments all claim to be indispensable to "provide." But would do it in a voluntary, non-coercive, non-bureaucratic and much less expensive way. (Cryptocoins don't require offices, pensions, or men with guns to force you to accept them, and only them, for services.)
Maybe call it ContractCoin or something.
Another use of this could be a sort of non-governmental "trademark." i.e. a hash that would be read from a hologram image imbedded or laser etched into a commercial physical item. Something that would be impossible to counterfeit. Like you could tell if that Rolex really came from the Rolex company by waving your smart phone over it and checking the blockchain. And you could also check to make sure it hasn't been reported stolen by the owner. The owner would register ownership with a trusted source (Rolex, or a trusted third party that people accept, like the BBB).
If the watch is ever stolen, the owner would report it to the manufacturer rather than the police (who usually never find stolen goods). Maybe private detectives could find and return stolen goods based on tracking block chain transactions, and get paid a bounty if the owner wants it back. And if the owner ever sells the watch in a private sale, he could confirm the new owner's ownership in the blockchain.
IDEAL QUALITIES FOR THIS COIN: would be things that would be counterproductive in a money coin, but be very useful for this type of "registering data"-specific blockchain:
--Is designed to be easy to mine (like you could do it forever on a smart phone), and have a massive amount of coins. Possibly a number of coin approaching (for all practical purposes), infinity.
--Is designed to stay extremely inexpensive, like less than 1/5 the current price per coin of one Namecoin.
--Would employ a continually updating system for rejecting transactions by people who abuse the coin....By blocking people who "cybersquat" i.e. patent trolls, people like that). That functionality would would use an updating blacklist. Sort of like PeerBlock does for uTorrent.
The criteria for inclusion in the blacklist would be reached by consensus / group conscience of the coin's creators, with certain perimeters set at time of release. Being added to the list would probably have to be automatic, to keep the decentralized nature, and not have any person, or group of persons, in charge. Because persons could be swayed. Obviously, fixes could be added, but having them have to go through a process would minimize the possibility of corruption in each iteration.
Not sure how blocking would be done, IP address wouldn't be good. Maybe a heuristic combination of sort of AI-inspired features that sniff abuse through traffic analysis / action analysis? I am not smart enough to know how this could be implemented, but I know there are people on this board who could do it.
--Is designed to be able to store massive amounts of text, and have the ability for users to add unlimited namespace or element tags. So you could set up a program that could pick which parts of the blockchain it would download.
--Is designed to be easy to edit and fork. So other people could make new versions of it if they came up with a new function or feature that this coin's team doesn't want to implement. Or wants that new feature quicker than the team for this coin feels like coming out with updates.
--etc.
Also, how about calling the smallest unit of this coin a Biolizard? lol.
MWD