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 Thursday, August 30, 2007

Internet bandwidth could become a global currency under a proposed model for the future of e-commerce that exploits a novel peer-to-peer video sharing application designed by a trans-Atlantic team of computer scientists according to an article by Vidura Panditaratne on Wednesday, 29 August 2007. This application is being used by researchers from Delft University of Technology and Vrije Universiteit, Amsterdam and Harvard's School of Engineering and Applied Sciences to explore a next-generation model for safe and legal electronic commerce that uses Internet bandwidth as a global currency. An enhanced version of this application called Tribler is now available for free download online.

A version of the Tribler video sharing software serves as a model for an e-commerce system because of its flexibility, speed, and reliability. The researchers envision this model to connect users to a single global market, without any controlling company, network, or bank with bandwidth as the first true Internet "currency" for such a market. "By studying user behavior within an operational 'Internet currency' system, with a particular focus on understanding how and why attacks, fraud, and abuse occur and how trust can be established and maintained, the researchers imagine future improvements to everything from on-demand television to online auctions to open content encyclopedias."

Read more by accessing the full article.