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Ripple is an open source initiative that leverages trust as a source of peer-to-peer credit and that builds on that network of trust and credit to shunt payments between users of the system. Ryan Fugger told me about a google rippleusers group that discusses the implementation of Ripple. As I got into reading posts and discussions on that group's list, I wa… Continue

There are two major ways in which to arrange economic interchange: One is to give freely of what we have without a need for exchange. "Pay it forward" is a term used in this context, and the overall system and practice of giving without expecting reward has been called "the gift economy". The other is what we call "the market", a system of production and exchange based on the idea of "tit for tat" or direct e… Continue