This paper proposes a resilient, alternative monetary system on the Internet called i-WAT, based on WAT System which uses a form of promissory note as the medium of exchanging goods and services. i-WAT uses an electronic version of the note, ownership of which is transferred by exchanging messages signed in OpenPGP.i-WAT can be used as the basis of various interpersonal/corporative transactions in the globally distributed computing environment. Specific applications being investigated include distributed consumer reports, an alternative copyright system and spam-free e-mail exchange.A prototype of an i-WAT checkbook has been developed as a plug-in for a Jabber client. Experiments are ongoing.
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- Peer-to-Peer Money: Free Currency over the Internet
- Springer Berlin Heidelberg
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