About information currency

From InfoengProject

Information Currency and Information Engineering

Allocation of economic resources by financial mechanisms is an essential part of modern capitalist economies, and financial innovations have been a powerful force for human progress. Information technology provides the opportunity to create new economic instruments to control power and money derived from any arbitrary element of information.

Information currency units are digital financial instruments that are issued and maintained by a service that establishes a correspondence between underlying units of information and information currency. Information currency will enable the application of economic mechanisms to information management and valuation. Information currency units can be traded for other economic instruments, and the exchange value of information currency units provides an economic valuation of the underlying information.

The first application of information currency is a client for the Subversion version control system, Information Currency Subversion, which returns information currency for each unit of committed source code. While no market currently exists for such instruments, information currency will enable new software engineering practices and new economic organization for the [http://www.catb.org/~esr/writings/cathedral-bazaar/cathedral-bazaar/ open-source bazaar].