how about P2P opensource Banking?

[mischief]

Obviously it would have to be REDICULOUSLY secure. Think about it. If I had a personal banking program based on P2P I could loan money, provide financial services and have anonymous digital cash. Economics with security, fair rates and NO BANKS!!!!!

To those who love to nit-pick: Duh, it would take a LOT of developing and the existing Banks would have us all shot.

 

[stoid]

Absolutely terrifying idea!!!!! What the ****!!! I love it! Its stupid ideas like that that keep the world turning! When railroads first came out, ranchers wouldn't use them because they said the 5 mph they traveled would be too fast and would startle the cows. Look at 'em now!! Patent the idea before anyone else does, you'll be rich!!

 

[mischief]

The best part:

You get to keep your Data private. If all my finances stay on my own system No one gets to use my records for anything.

 

[oldMac]

Yup... Uncle Sam will love all that private data.

Wow...

If it doesn't seem like the IRS would like it in the US, I can't imagine how freaked Europe would be.

Private transfer of money?

 

[mischief]

Yeah, I believe MY Data is MY business.

This includes anything that can be transferred electronically. I feel the government shouldn't be able to track or tax any transaction they want. If I agree to being taxed for a given transaction, fine.

Really I just like the Idea of removing Banks from the loop. Money is FAR more flexible than people think. There is NO restriction to the total amount of money in the world. There is no standard like Gold anymore. The value of currency is set by the World Bank (theoretically) based on the economic and trade power of that country. That is: it's based on the total number of transactions and relative value of those transactions. There's no reason this couldn't be electronically homoginized.