What do you mean by “open?”

In by Eric Harris-Braun

We mean an even playing field for all participants.

Our current economy is closed. Bankers and brokers manipulate trades, transactions and terms for their own benefit fairly invisibly. The average person has no access to the source code (rules, policies, processes) behind the scenes.

This power combined with a lack of transparency about what they do with it, is largely responsible for the current financial crisis. Securities, sub-prime mortgages, over-valued assets and portfolios are collapsing as the lies unravel.

The problem cannot be blamed on some greedy individuals or lazy regulators, it is structural. Until we change the underlying structure where the imbalance emerges, it will happen again and again.

Open Source Software does this by making a progam’s source code available. Anybody can verify what’s really happening behind the scenes or make modifications to it. This creates an even playing field where the original programmers can’t hide functions which would give them undue control over your computer.

We are doing this by reclaiming the power to make currencies with visible rules, decentralized control and tamper-proof data to anyone who wants to use them.