[p2p-research] Trust Relationships in P2P Networks

[Michel Bauwens]

I'm copying mark herpel of dgc magazine on this one, just in case he has
some informed perspective, as he is monitoring digital currency networks
used by people with many reasons to hide transfers and thus where trust is a
big factor,

Michel

On Thu, Jul 29, 2010 at 6:04 PM, Alex Rollin <alex.rollin at gmail.com> wrote:

>  The followoin came through the Ripple list.
>
> I wondered if others would agree that bilateral and multilateral trust can
> occur in a P2P Network and that this would by definition form a
> Commons when the trust ia multilateral.  There may be an inter-network
> commons then like the bank below that also enjoyed multilateral trust as a
> resource offering asset use value to multiple networks.
>
> A
>
> Begin forwarded message:
>
>  *From:* danny jp <dannyjpw at gmail.com>
> *Date:* July 29, 2010 12:10:06 PM GMT+02:00
> *To:* rippleusers at googlegroups.com
> *Subject:* *Re: outside money*
> *Reply-To:* rippleusers at googlegroups.com
>
>  Trust relationships are not primarily public and private.
>
> *They are bilateral and multilateral.* An example of a bilateral trust
> relationship is a ripple connenction or the relationship between a buyer of
> a corporate bond and the seller of it.
>
> An example of a multilateral relationship is that between private
> individuals and a bank. Many people trust the bank to pay.
>
> The  trust relationship upon which our whole economy is based is as
> follows:
>
> 1) individuals trust banks but not one another, hence they clear
> transactions between them using a bank (banks enjoy limited multilateral
> commitment from individuals)
> 2) banks trust the government but not one another, hence they clear
> transactions between them using the central bank (aka government)
> 3) everyone trusts the government (enjoys full multilateral commitment)
>
> belief in deposit insurance comes from (3).
>
> the reason we use public debt as outside money is that it is easier to
> trust taxpayers to meet future commitments (since they can be compelled to
> pay) than it is a given private bank.
>
>
>
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>


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