From: norm@netcom.com (Norman Hardy)
Date: Tue, 27 Jul 93 23:36:32 PDT
To: cypherpunks@toad.com
Subject: Digital Silk Road
Message-ID: <9307280634.AA13117@netcom3.netcom.com>
MIME-Version: 1.0
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This is the stuff that Dean Tribble and I talked about at
a couple of Saturday Cypherpunk meetings in Calif.
While it has nothing directly to do with crypto it is an
architecture that avoids central control and thus has
an anarchical flavor.
 
Let me know if you can't use either RTF or PostScript
or cant do FTP.
 
Abstract: of The Digital Silk Road

Existing and proposed mechanisms for digital money all require large overhead
to transfer money between parties. This overhead makes them unsuitable for
extremely low cost activities such as delivering and routing packets.
We propose a money system with extremely low transaction cost built into the
communication protocols. The money introduced by this system is much more
like coins than like bank accounts; it supports only small transactions,
requires limited trust among the participants, and requires no central bank.
With this as a foundation, we then describe elements of an open system that
fully supports network resource management, routing, interconnection with
the Internet, and so forth, across trust boundaries with competing providers
for all services. This supports a style of informal information commerce.

This paper is available thru anonymous ftp at
netcom.com:pub/joule/DSR1.ps.gz and DSR1.rtf.gz.
The file format, .rtf, (Rich Text Fotmat) can be read by many different
word processors including those from Microsoft, MacWrite II,
and some Unix systems. I will produce other formats with a bit of pressure.