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Bandwidth as an Internet currency

Computer scientists at Harvard's School of Engineering and Applied Sciences, in collaboration with colleagues from the Netherlands, are using a novel peer-to-peer video sharing application to explore a model for electronic commerce that uses Internet bandwidth as a global currency.

The researchers envision an e-commerce model that connects users to a single global market, without any controlling company, network, or bank. They see bandwidth as the first true Internet “currency” for such a market. For example, the more a user uploads now (i.e. earns) and the higher the quality of the contributions, the more s/he would be able to download later (i.e. spend) and the faster the download speed. In this way, individuals or groups of users may be able to run their own “marketplace” for any computer resource or service.

Another idea the researchers believe has untapped potential is the combination of social network technology with peer-to-peer systems, in which a group of ‘friends’ pool their collective upload ‘reserve’ to slash download times.

To explore the idea further, the Harvard school is using an enhanced version of a P2P video file sharing program called Tribler, originally created by scientists at the Delft University of Technology and Vrije Universiteit. The application and more details on the project is available at http://tv.seas.harvard.edu.
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A Finextra member
A Finextra member 31 August, 2007, 17:40Be the first to give this comment the thumbs up 0 likes Dibs on the futures market!
Paul Penrose

Paul Penrose

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Finextra

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This post is from a series of posts in the group:

Futuristic Banking

Stuff that's out there in the way out and beyond in banking.


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