This is how the technology from which Bram derived the core of the BitTorrent architecture (MojoNation, where he worked prior to releasing BitTorrent) worked, a

This is how the technology from which Bram derived the core of the BitTorrent architecture (MojoNation, where he worked prior to releasing BitTorrent) worked, and it was a failure. When storage is abstracted away from the publisher in this manner it gets flooded with content that is so nasty no one wants to host it themselves (child porn, etc), when the bandwidth and storage accounting is split from the specific content being shared you end up with a lot more people trying to game the system because credit earned from one node or piece of content can be used for something you really want, and when you have a global cloud of p2p nodes the power is concentrated in the search engine necessary to find content and you end up even more centralized than the web is today. Been there. Done that. It doesn't end up working out the way you think it should.