The Case for an Open Standard for Currency
Equitable CurrencyThe purpose of this article is to demonstrate that equitable, decentralized, and permission-less currency systems are possible. The principal assertions I'll rest my case on follow. The first two are factual; the last two are more subjective, but I will not spend time justifying them besides stating that they rest on the principle that the fewer entities a trust relies on, and the more direct the trust relationship, the better:money is trusttrust expressed in amorphous ...
The Case for an Open Standard for Currency
Equitable CurrencyThe purpose of this article is to demonstrate that equitable, decentralized, and permission-less currency systems are possible. The principal assertions I'll rest my case on follow. The first two are factual; the last two are more subjective, but I will not spend time justifying them besides stating that they rest on the principle that the fewer entities a trust relies on, and the more direct the trust relationship, the better:money is trusttrust expressed in amorphous ...
Money is Trust
When I was about 15 I studied a module of accounting, and I remember being thoroughly befuddled by double-entry bookkeeping, especially the apparent lack of logic around the choice of credit or debit in any given situation. Perhaps two decades later, after gaining a strong interest in fair currency, I had an insight that I believe makes it completely logical, and I dare say, easy, if you change your frame of reference. The answer is that credit and debit are TRUST operations. Credit is an inc...
Money is Trust
When I was about 15 I studied a module of accounting, and I remember being thoroughly befuddled by double-entry bookkeeping, especially the apparent lack of logic around the choice of credit or debit in any given situation. Perhaps two decades later, after gaining a strong interest in fair currency, I had an insight that I believe makes it completely logical, and I dare say, easy, if you change your frame of reference. The answer is that credit and debit are TRUST operations. Credit is an inc...
