Fair trading of information: A proposal for the economics of peer-to-peer systems

Kenji Saito, Eiichi Morino, Jun Murai

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Citations (Scopus)

Abstract

A P2P currency can be a powerful tool for promoting exchanges in a trusted way that make use of under-utilized resources both in computer networks and in real life. There are three classes of resource that can be exchanged in a P2P system: atoms (ex. physical goods by way of auctions), bits (ex. data files) and presences (ex. time slots for computing resources such as CPU, storage or bandwidth). If these are equally treated as commodities, however, the economy of the system is likely to collapse, because data files can be reproduced at a negligibly small cost whereas time slots for computing resources cannot even be stockpiled for future use. This paper clarifies this point by simulating a small world of traders, and proposes a novel way for applying the "reduction over time" feature[14] of i-WAT[11], a P2P currency. In the proposed new economic order (NEO), bits are freely shared among participants, whereas their producers are supported by peers, being given freedom to issue exchange tickets whose values are reduced over time.

Original languageEnglish
Title of host publicationProceedings - First International Conference on Availability, Reliability and Security, ARES 2006
Pages764-771
Number of pages8
DOIs
Publication statusPublished - 2006
Event1st International Conference on Availability, Reliability and Security, ARES 2006 - Vienna, Austria
Duration: 2006 Apr 202006 Apr 22

Publication series

NameProceedings - First International Conference on Availability, Reliability and Security, ARES 2006
Volume2006

Conference

Conference1st International Conference on Availability, Reliability and Security, ARES 2006
CountryAustria
CityVienna
Period06/4/2006/4/22

ASJC Scopus subject areas

  • Engineering(all)

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