Geek Credit is a complementary currency designed for the internet. The complementary currencies are widely used offline. They are not intended to replace the casual money, but rather to provide the benefits of the currency system as a medium of exchange and common value that will benefit the local community. That is why this currencies are called complementary. The open complementary currencies are a community service. Geek Credit system does not require a central authority and thus it is cheaper to run than other popular complementary systems like LETS or HOURS. It is also less vulnerable to the administrative pressure. If authorities decide to forbid or control the community currency, Geek Credit based system will survive.
Here is the typical transaction scenario:
Geek Credit example:
<EXAMPLE START> Geek Credit 0.3 591847600 1 alice <firstname.lastname@example.org> bobby <email@example.com> Sat Mar 20 11:31:38 2004 -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.2.4 (MingW32) iQCVAwUAQFwBalD6OYn9U7V6AQKF3wP/URRjRN1M5TqeFN7dpZFS7032ie84LkHD FUYELNkp4P7kemLJeXTu4z7orvbYMu93ARBZQHC3lHPCVqYa8KpyiJiMBCekGcd2 MPEXLWivs94bf39k1vdhZHF+NpQLMsEgaOjOTXfEcc9KYDN2LDR5NU5mA649RcM5 Otke4LZGSKM= =iegZ -----END PGP SIGNATURE----- bobby <firstname.lastname@example.org> catty <email@example.com> Sat Mar 20 11:32:47 2004 -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.2.4 (MingW32) iQCVAwUAQFwBr4DvBX7v1UrPAQIfDgP9HR8/49u4NjcDR36YdEVP3MMCkSAOMbJd Y31vyBNHsmHw9Rh+/Wq3BJt6JJlNGW6UQvOpSqgFUeYytIBXFuQyTTslO76Z4MHX 97Nx784w+jspggQJXYAELHHGsU/bnWUlq6n5qzNfqPx5togstrowzR7/97gmONaA qyzA9O9BM9M= =f5jZ -----END PGP SIGNATURE----- </EXAMPLE END>
This Geek Credit was created by alice who paid to bobby few Geek Credits including this one. Later bobby paid to catty using this Geek Credit. If later catty will pay it to alice, this credit will be redeemed (destroyed).
Changed at Fri Apr 9 20:58:23 MSD 2004
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