[gsc] Public Key Transaction Processor

Andrew McMeikan andrewm at iinet.net.au
Sat Jul 11 10:44:37 PDT 2009


About seven years ago, I started coding on a program for digital
payments using pgp keys as accounts.

I still have not finished it, not because it is hard, I just don't
program fast :)

Over the last six months Trubanc has come together and no doubt will
get lots of use as it does much of the magic I have been trying to
implement only much more shiny.

For those that reject the easy shiny way, my rough awkward gritty
way is almost done as well.  Along with requiring some technical
knowledge and only for certain system configurations (Linux) a much
more close to the crypto solution is coming soon.

If you already have a gpg/pgp key, you already have an account!

I am still slowly hammering away at code, but if you dont mind rough
edges and would like to play let me know!  I need testers!  I have
skipped my java version and just doing some simple scripts to do the
work.

As an overview, the fingerprint of each key is associated with a
balance in a variety of commodities held at a vault.  Transactions
are performed by signing a transaction to transfer an amount to a
different key.

Very similar to trubanc, but done very simply, no client required if
you stick to the format to use, or very simple inspectable script
that generates transactions to be signed.  Your private key never
leaves your control.  Very easy for multiple vaults to exist
eliminating any centralised point to be raided.

While not dependent on loom or other systems for asset backing, loom
does seem ideally suited as an inter-vault settlement system.

Once some testing is done a web and email server for transactions
will be trialled and as many can set up their own as they please.

I would very much like to email with someone who is interested in
testing such a system.

	cya,	Andrew...





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