encointer / whitepaper Goto Github PK

i like the idea of local currencies and demurrage. I am curious for your proof of location. I just wonder how your protocol can mitigate the risk that i do gps-spoofing with multiple mobiles to set up a fake meetup with sybils at a lonely location? Gps-spoofing was a common cheat in gps-based games like "ingress" a few years back.

We can argue that local currency of gps-sybils has no value because nobody will trade it.

But i think if it would really stay that "local" at the layer of sybil resistant close neighbors and friends... well, i think you wouldnt need another currency at all to trade favors of unconditional friendship "credit" or "basic income" with them at that close level. As soon as we want to use a local currency at a broader level, it all becomes more anonymous and the sybil problem like gps-spoofing gets more relevant again?

Anyway, i am looking forward to try it out in my City with real people. Good luck ;)