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Showing posts from August, 2014

Newk - an Update

While trying to find a reliable way to insure secure and unique identification for purposes of tracking Newk (New Coin) creation and obligations, I realized that one approach might derive from the thought that no one can be in two places at the same time.

While not convenient for anyone who has a regular job, the system might, at scheduled times, have everyone in a region (who wishes to obtain Newks) take a walk to meet random other persons who are also creating coins.  The two would exchange randomly generated half-keys transmitted when they say they have met, to verify that they are in fact physically in each others' presence.  Those half-keys, plus the other half-key transmitted directly to each individual, would be logged as newly created Newks.

To get a full allotment of Newks, each person would have to meet at least that number of other people.  If an appointment is missed, the system would generate another meeting place and person - if necessary giving out a few bonus Newks…