Solid Pay is a specification for creating peer-to-peer ledgers created by Michiel de Jong on top of Solid, a decentralized identity layer for the World Wide Web designed by Tim Berners-Lee and the W3C to fundamentally rework our relationship with our data on the Web.
Solid Pay is "not a cryptocurrency it is a higher layer technology that lives above existing currencies. However, Solid Pay, itself, is currency agnostic and any currency is usable with it."
We believe the One Economy can be implemented as a peer-to-peer ledger on top of a set of Solid Pods using Solid Pay. One will collaborate with itme to create and operate a Solid Pod hosting service for Citizens of One, called One Pod. Citizens will be given a Solid Pod that will embody their identity within One. One and itme will collaborate to create a Solid application to facilitate the creation of Solid Pay compatible webcredits payments between Citizens.
Given this infrastructure, One Economy can be defined as the set of all payments published in an agreed-upon location within the Pods of all Citizens. The current state of the peer-to-peer ledger underlying the One Economy can be determined by reading and concatenating the payment files of all Citizens. Because of the open-world assumption underlying Linked Data and RDF, the One Economy can interact trivially with other economies inside and outside the One Pod Host.
We believe it is feasible to implement a prototype of this peer-to-peer ledger system by the end of August 2020 suitable for running alongside (not as a replacement for) the current One Ledger.
References
Contexts
#solid
Collaborators
#travisvachon
#iandavis