Topic: Timekoin - page 5. (Read 24502 times)

Timekoin is the first non-experimental application of an open encrypted electronic  currency system on a public network.

The first concepts of digital currency date back to the late 1980s before the Internet was know as The Internet. Computer enthusiast would communicate with each other via modem dial-up bulletin boards and exchange files and messages. During those times, phone bills were high so online time was limited each day by system operators. Users would trade around "time" as currency in exchange for files or services.

This "time" could be added to another users account so that they may use more "online" time on the bulletin board computer. Because this started to become it's own culture of digital currency of trading time, many bulletin board operators began limiting users ability to trade "time" and eventually lead to business models of giving limited free time and charging users to use more time pass the free time point. Because of the limited nature and expense of running a bulletin board system, the electronic currency concept at the time was given an early death.

30 Years later, things have changed greatly. The Internet now allows anyone in the world with a computer to communicate. This vast open public network gives back the ability to resurrect the concepts of digital currency run by the public. Without any central authority to try to monetize the system and the vast amounts of computer power available to any person, the doors of the public digital currency once again swing open.