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Co-ops can establish private currency linked to trust scoring along many different criteria among a group-selected and group-maintained trust ontology (differen
by yourapostasy 8y ago
Co-ops can establish private currency linked to trust scoring along many different criteria among a group-selected and group-maintained trust ontology (different types of exchange transactions can be scored along different trust metrics). Link an exchange rate to the "outside" currency that is adjusted by the high trust factor, and due to a far more frictionless trust environment, argue that a price in the private currency is 1/100 X, while the price in the outside currency is X.
Today's currencies fail to drag along with them all the logistical details market participants are really interested in about an exchange; that's why we have crude hacks like review platforms, credit scoring, insurance claims reports, etc. They're extremely information lossy exchange mechanisms, and these logistical details only hazily emerge after a long time in a fast-moving market, always a rear-view mirror picture of the market.