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6min chapter
ReSource Finance: Building Bridges to New Monetary Systems
The Blockchain Socialist
How to Introduce an IOU System in the West
In places like Nairobi, where in order to get a credit line, you're going to be paying really high interest, like 100%, right? So it's not the best thing that we can come up with in terms of what's possible of finance. People are already dealing with this problem of lack of affordable credit and lack of jobs too - so people are already doing IOUs all the time. And by some estimates, there's this group called the Canadian Financial Diaries, which is an amazing read. It's a sociologist that documents basically the exchange of money amongst 400 people over a period of three years. He surfaces insights that traditional economics wouldn't even like know what
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