Free Digital Money 0.2 review

Free Digital Money projetc is aimed at promoting ideas and stimulating further innovation in the field of digital bearer money. Di

License: Freely Distributable File size: 735K Developer: Rachel Willmer

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Free Digital Money projetc is aimed at promoting ideas and stimulating further innovation in the field of digital bearer money.

Digital bearer money is like cash and can be transferred person-to-person without going through a bank or PayPal account.

Scope

The scope of this project is necessarily limited; digital bearer money schemes are difficult to implement.

The project will develop and release a Digital Money system and applications, suitable for teaching and idea-testing.

The current release (V0.2) delivers a basic digital PGP-based coin system.

The next release will provide a transport mechanism to send the coins to an intended recipient; and a client application (a Wallet).

How You Can Help

We welcome technical help in a variety of forms:

Application writers and visionaries: to use the FreeDMoney software to experiment with new ideas
Coders: to extend the current software or to implement a completely new payment system
Vendors of existing digital payment schemes: to implement a FDM interface to their code

Educational Usage

Students (and others) are welcome and encouraged to use FreeDMoney as a basis for discussing other considerations of building a secure payment systems.

Examples:

What technical peer-review process would be required to be confident in the security of the system?
What are the limitations in the model that would need to be overcome in order to make this into a technically sound basis for a real-world, real-value payment system?
Assuming these limitations had been overcome, what operational considerations would need to be addressed to deliver a secure, reliable payment system?
How do existing payment systems address these issues?
What legal and regulatory issues would need to be addressed in the target jurisdictions?

What's New in This Release:
Initial Coin implementation and "test bank" Web application.