The Currency of Identifiers

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 The Currency of Identifiers

• This blog is inspired by Beg, Borrow, or Steal
  a painting by the artist Brian Phillips, which is
  what we have to do to re-claim our personal data
  that has been crowd-sourced.
•  
• A new technology has emerged recently which
  leverages the resiliency of the Internet to
  enable distributed transactions bit Coin. One of
  the features of this technology is that it
  enables me to tell that a coin has been
  transferredthat a transaction has occurred.
  After a period of time, enough nodes can confirm
  this transaction to give me confidence that the
  transaction is now globally known.
•  
• I have proposed to the XDI.ORG trustees that one
  option is to restructure the XRI global registry
  based on an xdiCoin based solution (see the OX
  wiki for a slightly expanded discussion of
  xdiCoin.) A DNS name registration system has even
  been developed based on Bit coin called name
  Coin, which provides evidence that a digital
  currencys use as a registry is possible (in lieu
  of a central ICANN-style registry).
•  
• A coin represents a globally resolvable
  identifier. It is equivalent to a DNS top level
  domain, like .com or .ca If you do not have a
  coin, you can only be addressed in the context of
  another coin. Like a dollar bill, the coin has a
  serial number.

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Unlike a dollar bill, it also has a user settable
name. If you like, you can choose any name that
hasnt already been chosen by someone on the
Internet.   There is a different currency for
people and other entities like businesses or
organizations.   Active directory single sign on
server is a currency that has intrinsic value.
This is why websites want to know who you are. In
the old days, websites would verify your email.
But more information is more valuable, so
nowadays, it is not uncommon to be asked by
websites to provide a mobile phone number to sign
up for their free services. Google will even
verify your postal address. There is a clear
market for verified attributes. The more verified
attributes we are able to correlate to
identifiers, the more value can be obtained
(hence Face books optimistic market
valuation.)   If identity is a currency, how can
it be inter-operable? Currencies enable financial
markets to inter-operate. Could identity currency
enable websites to inter-operate? Coins take the
complexity of macro-economic principlesfor
example the complexity of government policies and
procedures as managed by the Federal Reserve
Boardand distill them into something that a
child can understand a shiny round metal object
that enables you to buy stuff. Wouldnt it be
great if identity were that simple?
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Coins would enable people, organizations or other
entities to stake out their portion of the
Internet. They would have something they own,
that is backed by the integrity of the system
that regulates it. Attribute providers would have
a starting point to bootstrap their various
verification processes, which would differ
depending on the type of coin organizational,
personal, or other.   I think this vision is
aligned with the direction that many identity
gurus think the market needs to transform to a
more open system of assured attributes rather
than assured identities. By monetizing
identifiers, perhaps the invisible hand of the
market can achieve the socially desirable end to
allow the recapture of value inherent in the
content, networks, and other data that make up
the digital infrastructure of a modern person or
other entity.   As one last note, the goal for a
solution like xdiCoin would be to issue an almost
unlimited supply of coins. There should be no
value to squatting on persistent
non-re-assignable identifiers (i.e. long
numbers).   Article resource-http//thegluuserver
.livejournal.com/6407.html