1 00:00:00,000 --> 00:00:03,960 I'm going to follow on from that last talk about... 2 00:00:03,964 --> 00:00:07,924 they've got a bunch of money, and they're looking for projects. 3 00:00:08,356 --> 00:00:11,120 I'm a project, so... :-) 4 00:00:11,721 --> 00:00:15,481 It's also quite a good follow on from the one about the social web and FOAF... 5 00:00:15,575 --> 00:00:20,649 because if you caught my project from yesterday, then I had this idea... 6 00:00:20,684 --> 00:00:26,272 that everybody has got their own machine that's not a server that's just sending text. 7 00:00:26,741 --> 00:00:28,728 You've actually got data, you're doing operations on your data. 8 00:00:28,729 --> 00:00:30,129 So, then it occurred to me that... 9 00:00:30,133 --> 00:00:35,493 there's one special item of data that's really, really important. 10 00:00:35,500 --> 00:00:38,394 I'm not talking about who's getting invited to which parties... 11 00:00:38,561 --> 00:00:41,134 who's sharing which kind of photos with whom on the social web. 12 00:00:41,169 --> 00:00:43,885 I'm talking about the real stuff, OK? That's money. 13 00:00:44,231 --> 00:00:46,304 If I'm paying someone 10 dollars... 14 00:00:46,918 --> 00:00:50,963 you can say I'm getting a -10, he's getting a +10. 15 00:00:51,319 --> 00:00:53,919 This is between us, beween people. 16 00:00:54,265 --> 00:00:58,993 Currently we have this strange system where there are some 'trusted' 3rd parties... 17 00:00:59,478 --> 00:01:01,967 and they are supposed to be in charge of everything. 18 00:01:02,330 --> 00:01:04,206 So you don't trust sombody's word... 19 00:01:04,583 --> 00:01:07,394 you trust something written with a little bank company logo. 20 00:01:07,627 --> 00:01:12,103 I thought OK, can we offer an alternative system of credit that's person to person? 21 00:01:12,193 --> 00:01:15,193 This is where it becomes very important to have a strong identity. 22 00:01:15,506 --> 00:01:21,392 I apologise that this talk is another hour talk that's compressed into 4 minutes... 23 00:01:21,688 --> 00:01:24,207 or if they're courteous, then a little more. 24 00:01:24,580 --> 00:01:28,999 Now imagine you get a call. It's a friend of yours. 25 00:01:29,075 --> 00:01:33,733 He's says "Can you ring me back please, it's costing me 7 Taka (=units) per minute?" 26 00:01:34,074 --> 00:01:36,529 If you ring him back, it's only going to cost you 3. 27 00:01:36,857 --> 00:01:38,458 Would you ring that guy back?... 28 00:01:38,763 --> 00:01:41,258 It depends on all sorts of things. 29 00:01:41,628 --> 00:01:47,390 The summary is, this is a new form of economics that I have created... 30 00:01:47,764 --> 00:01:49,791 and it's about relationships. 31 00:01:50,261 --> 00:01:53,431 Normal economics is all about what can I get, and I don't care about anyone else. 32 00:01:54,434 --> 00:01:58,123 I'm saying that there is a concept called 'sympathy' and if you have that sympathy... 33 00:01:58,189 --> 00:02:02,727 then you will go without, in order to prevent your friend from losing. 34 00:02:02,804 --> 00:02:06,285 What this means in terms of the relationship, you give it a number. 35 00:02:06,410 --> 00:02:08,083 That's the indifference value. 36 00:02:08,358 --> 00:02:10,195 If you don't know "Should I call, should I not" 37 00:02:10,805 --> 00:02:12,612 It you're at 0, then you never call them back. 38 00:02:13,079 --> 00:02:14,662 If it's your mum and you know... 39 00:02:14,728 --> 00:02:16,850 well, when she dies, you're going to get all her money anyway... 40 00:02:16,926 --> 00:02:20,392 then that's 1, because you're saving your own money. 41 00:02:20,692 --> 00:02:23,297 So, now we've got a friend of a friend... 42 00:02:23,559 --> 00:02:26,607 Does that have a sympathy value? 43 00:02:27,015 --> 00:02:28,223 Well it does, if you do the math, 44 00:02:28,280 --> 00:02:30,612 it turns out that it's a product if there's only one path. 45 00:02:31,222 --> 00:02:33,028 You can make these little axioms, that's what I've made. 46 00:02:33,329 --> 00:02:36,979 What we're making is a social web, that's a network of relationships. 47 00:02:37,302 --> 00:02:40,104 You've heard that "You get what you measure." 48 00:02:40,414 --> 00:02:44,137 We're measuring altruism, how much you care about people. 49 00:02:44,517 --> 00:02:47,322 What we've got here then is a not a market. 50 00:02:47,758 --> 00:02:49,362 because in a market we're looking at prices. 51 00:02:49,663 --> 00:02:51,809 If I go to my price comparison site, 52 00:02:52,165 --> 00:02:55,080 maybe I think about do I trust these guys at all to give me the product... 53 00:02:55,371 --> 00:02:57,017 (but it's only about the price, there's no sympathy) 54 00:02:57,326 --> 00:02:59,160 In a network, everybody is different. 55 00:02:59,505 --> 00:03:02,258 People have sympthy for who they are dealing with, and everybody's position is unique. 56 00:03:02,623 --> 00:03:07,902 With money... you're used to saying "How much is it worth to me". 57 00:03:08,255 --> 00:03:09,440 You express yourself in numbers. 58 00:03:09,866 --> 00:03:11,704 For example, if there are two people working together... 59 00:03:12,085 --> 00:03:15,359 we're hoping that they are having a good day... 60 00:03:15,631 --> 00:03:17,173 they are helping each other, and they both like it. 61 00:03:17,402 --> 00:03:21,795 I'm afraid this is quite a lot to talk. I'm making a criticism of (moneyed) society. 62 00:03:22,118 --> 00:03:24,301 People end up doing the things that are bad for both. 63 00:03:24,623 --> 00:03:25,713 Like we're taking each other to court... 64 00:03:25,957 --> 00:03:28,470 Wouldn't it be easier if we just didn't bother? 65 00:03:28,779 --> 00:03:31,155 Yes it would, but sombody has an idea "I can get some money off of this guy." 66 00:03:31,524 --> 00:03:38,963 Money is forcing people into the lose-lose quadrant that is a sign of a sick society. 67 00:03:39,286 --> 00:03:42,384 We should be in a healthy society, that's the win-win quadrant... 68 00:03:42,749 --> 00:03:46,204 but due to how we score it, then there's the idea... 69 00:03:46,468 --> 00:03:48,908 that we must compensate any kind of value transfer. 70 00:03:49,240 --> 00:03:52,557 I was discussing this yesterday with somebody... 71 00:03:52,881 --> 00:03:55,049 and he was saying that for every winner there must be a loser. 72 00:03:55,438 --> 00:03:59,131 It got as far as OK, so maybe you're having sex with somebody... 73 00:03:59,491 --> 00:04:00,999 and you're having a good time... 74 00:04:00,982 --> 00:04:02,482 you're winning, but... you're losing your time!! 75 00:04:08,693 --> 00:04:12,695 We have this idea that it's all about winners and losers... 76 00:04:13,003 --> 00:04:15,003 and we can't just accept OK life is a gift, 77 00:04:15,297 --> 00:04:17,627 some things you have got just because you are given them. 78 00:04:17,963 --> 00:04:19,929 Because we are always competing for things. 79 00:04:20,278 --> 00:04:22,506 You're selling something, you want to get a bit more money. 80 00:04:23,076 --> 00:04:25,651 Does life have to be like that? 81 00:04:26,073 --> 00:04:28,068 Well if we phrase things in terms of money, yes it does... 82 00:04:28,903 --> 00:04:31,180 because money says "I'm only getting as much as he's losing." 83 00:04:31,457 --> 00:04:33,671 So if I want to get more, then I've got to make him lose more. 84 00:04:38,103 --> 00:04:40,090 You basically learn that life is about fighting... 85 00:04:40,107 --> 00:04:43,696 from the time you realise that Tom is out to get Jerry. 86 00:04:43,992 --> 00:04:46,191 Here is another way that we could do business. 87 00:04:46,590 --> 00:04:50,113 We could just honestly say "This is how much it's worth to me." 88 00:04:50,454 --> 00:04:52,792 Someone else says "This is how much it's worth to me." 89 00:04:53,158 --> 00:04:55,213 If there's a wide gap, they're both saying: 90 00:04:55,222 --> 00:04:57,619 "This is a really good thing. I don't want it, I'll give it to him." 91 00:04:57,973 --> 00:04:59,737 There is an incentive there to be honest. 92 00:05:00,005 --> 00:05:02,678 That is not about one person wins, the other one loses. 93 00:05:03,013 --> 00:05:05,310 We have a cooperative mentality. 94 00:05:05,764 --> 00:05:09,260 We like to cooperate, but we also have to pay the bills... 95 00:05:09,523 --> 00:05:13,486 and it is the money system that forces us to compete with one another. 96 00:05:13,791 --> 00:05:15,357 So another way we could do it... 97 00:05:15,678 --> 00:05:18,881 and if you had a sympathy of 1 with somebody... 98 00:05:19,212 --> 00:05:20,568 this is how you would score it. 99 00:05:21,082 --> 00:05:23,127 This is measuring the (overall) created value. 100 00:05:23,480 --> 00:05:26,234 You would be ready to pick up your friend from the station. 101 00:05:26,557 --> 00:05:29,349 That costs a little of time, but it's worth a lot to them. 102 00:05:29,661 --> 00:05:32,330 You wouldn't do it for a stranger perhaps, but you'd do it for your friend... 103 00:05:32,630 --> 00:05:35,155 because you're seeing life through their eyes. 104 00:05:35,475 --> 00:05:38,586 You're saying "I'm going to be selfish not for just me... 105 00:05:38,881 --> 00:05:41,154 but for me and the people I care about." 106 00:05:41,460 --> 00:05:44,494 Now it seems to me that is missing in our society. 107 00:05:44,904 --> 00:05:47,504 If inter-personal transfers aren't relevant, 108 00:05:47,989 --> 00:05:49,335 is this a way you can run a money system?... 109 00:05:49,569 --> 00:05:52,830 No, because it does actually matter... 110 00:05:53,127 --> 00:05:55,168 if you're giving up all your time to help people... 111 00:05:55,517 --> 00:05:57,433 it would be nice to get something back. 112 00:05:57,814 --> 00:05:59,099 So, what's the solution? 113 00:05:59,435 --> 00:06:01,534 Well we've got 2 people with 2 opinions. 114 00:06:01,871 --> 00:06:04,594 Let's just say they can state their own opinion... 115 00:06:04,918 --> 00:06:08,817 and I don't have a right to tell somebody else what is their opinion. 116 00:06:09,117 --> 00:06:10,263 What have we got...? 117 00:06:10,354 --> 00:06:11,936 We've got a 2-dimensional system. 118 00:06:12,255 --> 00:06:14,855 We can do mathematics, it's not so hard. The computer can do it. 119 00:06:15,188 --> 00:06:18,469 If we are passing around pieces of paper or metal... 120 00:06:18,787 --> 00:06:22,939 we have the zero-sum constraint. 121 00:06:23,262 --> 00:06:25,459 We have to be fighting about who gets to have them. 122 00:06:25,762 --> 00:06:26,467 But we're not. 123 00:06:27,117 --> 00:06:27,978 Because we do computers... 124 00:06:28,282 --> 00:06:29,705 so I can make a record, you can make a record. 125 00:06:29,972 --> 00:06:32,578 We can have an algorithm (to receoncile them). 126 00:06:32,860 --> 00:06:38,362 That's the model, that was an idea from about 5 years ago. 127 00:06:38,740 --> 00:06:41,361 Then I said "How are we going to program this?" 128 00:06:41,688 --> 00:06:45,176 We have some very important things that identity has to be protected... 129 00:06:45,467 --> 00:06:49,340 because we're not talking only about Facebook data, this is economic data. 130 00:06:49,658 --> 00:06:53,675 So let's make a network of XML virtual machines... 131 00:06:53,986 --> 00:06:57,760 with a strong identity so that you know who it is who is helping you out... 132 00:06:58,063 --> 00:06:59,904 and when you are crediting them for what they've done... 133 00:07:00,188 --> 00:07:02,294 you're not giving it to some IP hacker. 134 00:07:02,612 --> 00:07:04,865 So that's what I've been working on. 135 00:07:05,175 --> 00:07:08,964 I feel I should give some more time, because I don't want to run over... 136 00:07:12,757 --> 00:07:17,527 OK, I'll wrap it up with the next slide, which is the practical implementation. 137 00:07:17,859 --> 00:07:19,385 This is what it will look like. 138 00:07:19,793 --> 00:07:22,123 You want something done. 139 00:07:22,504 --> 00:07:23,223 What do I want? 140 00:07:23,622 --> 00:07:25,507 OK someone to fix my laptop, I can't fix laptops. 141 00:07:26,023 --> 00:07:27,365 Then you're getting offers... 142 00:07:27,654 --> 00:07:30,585 (These are people who have said "I have an ability to fix a laptop") 143 00:07:30,962 --> 00:07:32,039 and requests. 144 00:07:32,865 --> 00:07:38,138 Like Google, there are a lot of pages out there, and you want just a few of them. 145 00:07:38,435 --> 00:07:42,573 This system can put the people towards the top... 146 00:07:42,710 --> 00:07:47,157 who have helped the most, and who have received the least help. 147 00:07:47,440 --> 00:07:49,107 These are the people that you should be helping. 148 00:07:49,412 --> 00:07:53,666 It doesn't tell you who to help, but it's based on another assumption... 149 00:07:54,035 --> 00:07:56,875 that's the reverse of ordinary economics. 150 00:07:57,220 --> 00:08:01,019 This assumption is that people like things to be fair. 151 00:08:01,504 --> 00:08:03,822 So it's going to show you all the people... 152 00:08:04,143 --> 00:08:05,733 and it's going to say for the requests... 153 00:08:06,074 --> 00:08:08,423 "Help these people, they have an imbalance." 154 00:08:08,808 --> 00:08:15,049 I'm not suggesting a centralised system, it's a completely decentralised system... 155 00:08:15,356 --> 00:08:20,056 but instead of using money, this will be another way that you can get things done. 156 00:08:20,486 --> 00:08:22,915 So it's putting people in touch with other people... 157 00:08:23,215 --> 00:08:25,285 and it's very reliant on the semantic web and the strong identity. 158 00:08:26,754 --> 00:08:27,779 Thank you.