Aug 28, 2017 · 1 min read
Thanks.
I imagine this system being initially used in addition to all other money system existing now, not instead of. In fact, the credits issued by users would be backed by assets, and existing money like $ or BTC would be the most convenient type of assets. This would make the adoption easier for 3 main reasons:
- The system is not perceived as a threat by the current banking and financial systems.
- This approach solves the problem of people issuing credits (‘maxing out’ their accounts) and then just not delivering goods or services back.
- The system would be perceived by potential users as more secure, more ‘real’, because is it backed by ‘real’ money.
