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Giftfile Project Primes Decentralized Gift Economy

Posted by michael on from the whuffie-for-everyone dept.

belmo writes "Last week, the Giftfile Project unveiled developer documentation and reference software for the giftfile system. This system enables producers and supporters of computer files containing nonproprietary intellectual works to participate in a gift economy. Tax deductible lump donations, made to nonprofit intermediaries, can be allocated to these files in an automated and efficient manner, supporting transactions as little as .01 USD. Nonproprietary intellectual works include free software, music, and literature. To use the system, you don't have to go to some web site and register--it's decentralized, built on open standards, and does not depend on any for-profit entity. The project is currently targeting free software developers to test the system, help make it accessible to other computer users, and be its first participants."

2 of 68 comments (clear)

  1. How Typical by Anonymous Coward · · Score: 5, Interesting

    How typical. When a news story concerning **AA, specifically how it is going to sue people who download songs from the internet (I would not be shocked if the songs were Bach Chorales), everyone gets ticked, and we have veritable screaming matches.

    Then, when a theoretical solution to the problem of how [composers|programmers|authors] will get compensation, NO ONE CARES!

    1. Re:How Typical by DerekLyons · · Score: 5, Insightful
      Then, when a theoretical solution to the problem of how [composers|programmers|authors] will get compensation, NO ONE CARES!
      It's theoretical alright, and fraught with practical problems.

      First off, the 'gift money' is only given to the [composer|programmer|author] on demand... Which means that any interest that acrues will end up as income to the 'giftfile' organization. Lacking any place to spend the money... Where does it go? (Fat salaries for employees and managers is my bet.)

      Second off the proponents appear to making the suggestion that their should be multiple gift pools, which makes for a situation ripe with oppurtunities for fraud.

      Thirdly; One also wonders how long the nonprofit status will survive, since the company isn't performing charitable, research, or educational functions, but is rather providing 'bank like' functions in distributing income to individuals. (They claim they are 'grants', but the fact that they are monies earmarked for an individual and payable to that individual on demand moves that claim onto *very* shakey ground.) The granting of status as a non-profit doesn't mean it can't be revoked, such revocation can also (for tax purposes) be antedated. (This entire 'thirdly' is mostly the thoughts of my wife... A CPA who has done tax and nonprofit work.)