ReSource Finance: Building Bridges to New Monetary Systems
The Blockchain Socialist
The Different Types of Mutual Credit Systems
In a mutual credit system, everyone has the ability to create money rather than it being created by a centralized entity. From person to person, I can have a credit line with Ashley. If I buy something from her that I would send her 10 credits. So then our balances would be I would be negative 10 and it would be plus 10. We're not trying to compete with any of these existing mutual credit networks. We're actually just trying to provide a layer of technology that can be inserted within these groups that already exist all over the world.
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