Author

Topic: Could new currencies be pegged to digital resources? (Read 474 times)

legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
As far as I know, Namecoin is already pegged to a digital "resource": domain names with the *.bit TLD.

So the concept still exists for name-related rights. For other kind of digital resources, the Namecoin concept would be difficult or impossible to adapt, but there may be other ways to peg a resource to the coin value.
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
I like this idea, had some similar thoughts a couple of days ago. Subscribed the thread.
newbie
Activity: 18
Merit: 4
Any coin linked to a physical asset will have the problem of requiring a gateway step, translating it from its fiat/physical form to digital, perhaps with a restrictive interface - though for certain assets (e.g. teddy bears) AML laws will not be as strict. Coins pegged to digital assets however, such as disk space, bandwidth, instructions (for an off-site processing service) would require no such gateway step. The tokens could be traded freely through payment systems like Open Transactions/Ripple/Coloured Coins/Mastercoin/a new blockchain and then redeemed directly for services. If these services were themselves decentralised, then you would have a completely decentralised, asset-pegged currency, and I see this being the way to go for certain services (web-hosting, storage, cloud computing) - and by offering these resources yourself, you could generate coins that could be exchanged for other goods and services, or other currencies.
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