Anonymous Trading
Untraceable, privately issued electronic money and anonymous Internet banking exists in these networks. Digital Monetary Trust and Yodelbank were examples of two such anonymous banks that were later put offline by their creators. eCache is a bank currently operating in the Tor network, and Pecunix is an anonymous (submitting personal information when opening an account is optional) gold bank operating on the Internet.
Ukash is an e-money network. Cash in amounts up to £500/€750 can be swapped for a 19-digit Ukash voucher in payment terminals and retail outlets.
Bitcoin is a currency generated by peer-to-peer networked computers that maintain a communal record of all transactions within the system that can be used in a crypt-anarchic context.
Silk Road is an anonymous market operating in the Tor network. Users can buy and sell objects such as drugs using the Bitcoin.
Anonymous trading is easier to achieve for information services that can be provided over the Internet. Providing physical products is more difficult as the anonymity is more easily broken when crossing into the physical world: The vendor needs to know where to send the physical goods. Untraceable money makes it possible to ignore some of the laws of the physical world, as the laws cannot be enforced without knowing people's physical identities. For instance, tax on income for online services provided via the crypto-anarchists networks can be avoided if no government knows the identity of the service provider.
In his work, The Cyphernomicon, Timothy C. May suggests that crypto-anarchism qualifies as a form of anarcho-capitalism:
What emerges from this is unclear, but I think it will be a form of anarcho-capitalist market system I call "crypto-anarchy."Read more about this topic: Crypto-anarchists
Famous quotes containing the word trading:
“His farm was “grounds,” and not a farm at all;
His house among the local sheds and shanties
Rose like a factor’s at a trading station.”
—Robert Frost (1874–1963)