Geek Credit manual.

What is Geek Credit system

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.

How to use Geek Credit

Geek Credit currently supports different communities. Each has a separate Geek Credit currency and is addressable by a uniq number. To use Geek Credit system one should have GnuPG installed, and public key available to other Geek Credit users, i.e. published at the well known key server. It is also recommended to use the Geek Credit pocket software. When using other software or processing Geek Credits manually, please make sure you read and accept the Geek Credit policy.

Here is the typical transaction scenario:

  1. Buyer and seller agree on number of Geek Credits to be paid. They also agree on the list of the issuers the seller accepts.
  2. Buyer adds the transaction details to the Geek Credits seller will get and signs them. Buyer gets this Geek Credits from the pocket and issue new if needed.
  3. Buyer sends seller this credits using any carrier, including insecure (FTP, instant message, e-mail, etc). Stealing Geek Credits either from pocket or from the wire during the transmittion is pointless. The only way to steal Geek Credits is to create a duplicate, but this is easily trackable and the attacker's guilt can be proven with his signature. The credits issued remain in buyers archive.
  4. Seller checks the received credits signatures and issuers data. The credits that are issued by the seller are redeemed (destroyed). The transaction information goes to seller's archive.

Geek Credit example:

Geek Credit 0.3 591847600 1
alice <>
bobby <>
Sat Mar 20 11:31:38 2004
Version: GnuPG v1.2.4 (MingW32)


bobby <>
catty <>
Sat Mar 20 11:32:47 2004
Version: GnuPG v1.2.4 (MingW32)


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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