The above title is one of the strong statements by David Hales in a lecture on peer to peer banking. It goes into quite some detail about the peer to peer aspects of new “chains of trust”-based peer finance projects:
Ludwig Schuster writes about this video:
“This is really one of the jewels re p2p-currency video lectures: http://videolectures.net/eccs07_hales_end/
Unfortunately it is not yet linked to the p2p pages and almost unknown in the complementary currency movement. I send it to you as I think you will enjoy it and spread the word most effectively within your networks.”
Video:
Emergent Networks as Distributed Reputation System
David Hales
Jct: I’ve been my own online bank for over the past 10 years and http://johnturmel.com/unilets.htm is my own rudimentary but completely functional timebank account. And P2P is only making it easier for others to do the same.