Krzysztof Jurewicz is a user on capitalism.party. You can follow them or interact with them if you have an account anywhere in the fediverse. If you don't, you can sign up here.

@KrzysiekJ best wishes with Ercoin, I'm really curious to see how the electronic currency scene expands. Have you heard of the Duniter project? If yes, do you have any opinions?

Krzysztof Jurewicz @KrzysiekJ

@douginamug I’ve previously heard some criticism of cryptocurrency distribution models from the leftis/socialist point of view, but without constructive proposals. Duniter seems to be one of the first to offer something in that matter and in that sense it’s interesting. However I haven’t evaluated whether their approach to confirming people’s existence via web of trust can actually work. In particular, how are they going to solve the problem of hidden dead grandpa?

@KrzysiekJ Yep, I haven't fully understood how their Web of Trust approach works, but I am interested. Any currency that wants to implement UBI/UD needs to solve the authentication problem, a mostly novel problem.

What is the hidden dead grandpa problem?

@douginamug Let’s say that a grandparent dies, but his family retains his private keys and (collaborating with his close friends) pretends he’s still alive, to retain UBI coming from Duniter. How is Duniter going to find out he’s actually dead?

@KrzysiekJ ah yes, I see. Well, I guess they ensure this the same way they authenticate he was a real person in the first place, with their web of trust function. I don't know precisely how the WoT works, but I think it requires regular authentication from various sources. Authentication without centralized institutions seems to be a pretty big challenge.