> Subject: MojoNation file sharing system plans to beat Napster, > Gnutella > > http://www.wired.com/news/technology/0,1282,37892,00.html > > Get Your Music Mojo Working > by Declan McCullagh ([EMAIL PROTECTED]) > > 5:45 p.m. Jul. 29, 2000 PDT > LAS VEGAS -- A new file-sharing system could best rivals > like Napster and Gnutella through more anonymous and > efficient transfers. > > The service has an innovative feature that rewards users > for uploading and distributing files: payment in a form of > digital currency called "Mojo." > [...] > The libertarian-leaning cypherpunks -- only about seven > so far -- who work at Autonomous Zone are pinning their > hopes on creating an emergent network of electronic > buyers, sellers, and service providers, all exchanging > tokens that might represent as little as one-thousandth of > a cent. > [...] > By pinning even an infinestimal value on all transactions, > the company plans to discourage piggish folks who > download more than they contribute in return. > > To earn Mojo tokens, users can sell their extra bandwidth > or disk space and act as servers, or create their own > service that others want to pay for. A successful system > would also likely include money exchangers who buy and > sell Mojo tokens in exchange for dollars. > Doesn't this create a private currency? Many US banks used to issue their own currency, but around the turn of the 19-20th century [it feels weird to have to disambiguate 'turn of the century'] the Fedz slapped a 10% tax on any transaction which didn't use USG issued scrip. I could see them attempting to apply that tax to this, and many other e-scrip operations. [...] Peter Trei