It is almost conventional wisdom that the best way to encourage electronic commerce is to let the markets reign. Not according to Wingham Rowan. GEMs would create an open automated marketplace in which all sellers were equal.
Car hire is a very simple example.
If I want to rent a carr, I simply tell GEMs my location, my preferred type of vehicle and my required timeframe. Once I've selected the one I want the system constructs a contract between myself and the hirer. Central to the process is adjudication. If I don't return the car in time, or damage it, the contract will automatically be referred by the owner to an adjudication panel who can use my deposit or the owners bond to finance resolution. The contract and the money-holding mechanisms protect both parties as soundly as any brand name.