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> Beneath all the complexity and sleekness underlying the tools we use every day seems to eventually lie a system of IOUs, with an honor-based resolution mechan
by louwrentius 6y ago
> Beneath all the complexity and sleekness underlying the tools we use every day seems to eventually lie a system of IOUs, with an honor-based resolution mechanism between sufficiently trustworthy entities.
This is how societies - in the end - work. It is all about trust, I think.
And although there are forces to undermine that fundamental trust, it does still work.
- munk-a 6y agoThere really isn't a different way to work honestly. Either we rely on trust or force and that trust and force can be transferred and dissipated through a legal system but force loses its transferable value very quickly while trust can be passed on many times.
- stjohnswarts 6y agoIt's how the fiat money system works as well.