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I'm going to follow on from that last talk about...
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they've got a bunch of money,
and they're looking for projects.
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I'm a project, so... :-)
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It's also quite a good follow on from the one
about the social web and FOAF...
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because if you caught my project from yesterday,
then I had this idea...
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that everybody has got their own machine
that's not a server that's just sending text.
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You've actually got data,
you're doing operations on your data.
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So, then it occurred to me that...
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there's one special item of data
that's really, really important.
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I'm not talking about who's
getting invited to which parties...
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who's sharing which kind of photos
with whom on the social web.
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I'm talking about the real stuff, OK? That's money.
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If I'm paying someone 10 dollars...
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you can say I'm getting a -10,
he's getting a +10.
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This is between us, beween people.
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Currently we have this strange system where
there are some 'trusted' 3rd parties...
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and they are supposed to be in charge of everything.
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So you don't trust sombody's word...
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you trust something written with
a little bank company logo.
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I thought OK, can we offer an alternative
system of credit that's person to person?
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This is where it becomes very important
to have a strong identity.
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I apologise that this talk is another hour talk
that's compressed into 4 minutes...
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or if they're courteous, then a little more.
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Now imagine you get a call. It's a friend of yours.
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He's says "Can you ring me back please,
it's costing me 7 Taka (=units) per minute?"
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If you ring him back, it's only going to cost you 3.
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Would you ring that guy back?...
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It depends on all sorts of things.
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The summary is, this is a new form
of economics that I have created...
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and it's about relationships.
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Normal economics is all about what can I get,
and I don't care about anyone else.
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I'm saying that there is a concept called 'sympathy'
and if you have that sympathy...
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then you will go without,
in order to prevent your friend from losing.
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What this means in terms of the relationship,
you give it a number.
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That's the indifference value.
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If you don't know "Should I call, should I not"
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It you're at 0, then you never call them back.
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If it's your mum and you know...
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well, when she dies, you're going
to get all her money anyway...
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then that's 1, because you're saving your own money.
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So, now we've got a friend of a friend...
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Does that have a sympathy value?
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Well it does, if you do the math,
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it turns out that it's a product if there's only one path.
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You can make these little axioms,
that's what I've made.
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What we're making is a social web,
that's a network of relationships.
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You've heard that "You get what you measure."
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We're measuring altruism,
how much you care about people.
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What we've got here then is a not a market.
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because in a market we're looking at prices.
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If I go to my price comparison site,
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maybe I think about do I trust these
guys at all to give me the product...
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(but it's only about the price, there's no sympathy)
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In a network, everybody is different.
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People have sympthy for who they are dealing with,
and everybody's position is unique.
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With money... you're used to saying
"How much is it worth to me".
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You express yourself in numbers.
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For example, if there are two people working together...
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we're hoping that they are having a good day...
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they are helping each other,
and they both like it.
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I'm afraid this is quite a lot to talk.
I'm making a criticism of (moneyed) society.
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People end up doing the things that are bad for both.
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Like we're taking each other to court...
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Wouldn't it be easier if we just didn't bother?
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Yes it would, but sombody has an idea
"I can get some money off of this guy."
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Money is forcing people into the lose-lose quadrant
that is a sign of a sick society.
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We should be in a healthy society,
that's the win-win quadrant...
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but due to how we score it,
then there's the idea...
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that we must compensate any kind of value transfer.
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I was discussing this yesterday with somebody...
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and he was saying that for every
winner there must be a loser.
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It got as far as OK,
so maybe you're having sex with somebody...
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and you're having a good time...
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you're winning, but...
you're losing your time!!
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We have this idea that it's
all about winners and losers...
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and we can't just accept OK life is a gift,
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some things you have got
just because you are given them.
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Because we are always competing for things.
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You're selling something,
you want to get a bit more money.
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Does life have to be like that?
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Well if we phrase things in terms of money,
yes it does...
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because money says
"I'm only getting as much as he's losing."
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So if I want to get more,
then I've got to make him lose more.
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You basically learn that life is about fighting...
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from the time you realise that Tom is out to get Jerry.
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Here is another way that we could do business.
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We could just honestly say
"This is how much it's worth to me."
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Someone else says
"This is how much it's worth to me."
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If there's a wide gap, they're both saying:
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"This is a really good thing.
I don't want it, I'll give it to him."
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There is an incentive there to be honest.
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That is not about one person wins,
the other one loses.
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We have a cooperative mentality.
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We like to cooperate,
but we also have to pay the bills...
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and it is the money system that
forces us to compete with one another.
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So another way we could do it...
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and if you had a sympathy of 1 with somebody...
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this is how you would score it.
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This is measuring the (overall) created value.
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You would be ready to pick up
your friend from the station.
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That costs a little of time,
but it's worth a lot to them.
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You wouldn't do it for a stranger perhaps,
but you'd do it for your friend...
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because you're seeing life through their eyes.
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You're saying "I'm going to be selfish not for just me...
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but for me and the people I care about."
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Now it seems to me that is missing in our society.
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If inter-personal transfers aren't relevant,
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is this a way you can run a money system?...
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No, because it does actually matter...
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if you're giving up all your time
to help people...
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it would be nice to get something back.
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So, what's the solution?
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Well we've got 2 people with 2 opinions.
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Let's just say they can state their own opinion...
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and I don't have a right to tell
somebody else what is their opinion.
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What have we got...?
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We've got a 2-dimensional system.
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We can do mathematics, it's not so hard.
The computer can do it.
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If we are passing around
pieces of paper or metal...
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we have the zero-sum constraint.
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We have to be fighting about
who gets to have them.
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But we're not.
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Because we do computers...
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so I can make a record,
you can make a record.
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We can have an algorithm (to receoncile them).
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That's the model,
that was an idea from about 5 years ago.
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Then I said
"How are we going to program this?"
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We have some very important things
that identity has to be protected...
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because we're not talking only about
Facebook data, this is economic data.
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So let's make a network of XML virtual machines...
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with a strong identity so that you know
who it is who is helping you out...
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and when you are crediting them
for what they've done...
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you're not giving it to some IP hacker.
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So that's what I've been working on.
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I feel I should give some more time,
because I don't want to run over...
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OK, I'll wrap it up with the next slide,
which is the practical implementation.
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This is what it will look like.
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You want something done.
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What do I want?
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OK someone to fix my laptop, I can't fix laptops.
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Then you're getting offers...
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(These are people who have said
"I have an ability to fix a laptop")
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and requests.
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Like Google, there are a lot of pages out there,
and you want just a few of them.
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This system can put the people towards the top...
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who have helped the most,
and who have received the least help.
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These are the people that you should be helping.
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It doesn't tell you who to help,
but it's based on another assumption...
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that's the reverse of ordinary economics.
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This assumption is that people like things to be fair.
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So it's going to show you all the people...
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and it's going to say for the requests...
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"Help these people, they have an imbalance."
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I'm not suggesting a centralised system,
it's a completely decentralised system...
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but instead of using money, this will be
another way that you can get things done.
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So it's putting people in touch with other people...
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and it's very reliant on the
semantic web and the strong identity.
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Thank you.