When looking at the various crypto-currencies that have emerged over the last few months, most, if not all of them have had one thing in common. They are essentially cloned versions of Bitcoin. My question isn’t how to clone Bitcoin but rather how can you go about creating a completely new virtual currency. One that is based on varied asset backings. The currency could be like a Bitcoin, based on an algorithm or based upon more traditional assets like US dollars, gold, or even a basket of mixed existing asset types.
As it turns out, there is a free open source project that aims to do exactly this. Called Open-Transactions or OT, the project itself is a transaction processor in the cypherpunk tradition.
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