“I am convinced that men hate each other because they fear each other. They fear each other because they don’t know each other, and they don’t know each other because they don’t communicate with each other, and they don’t communicate with each other because they are separated from each other”
― Martin Luther King, Jr.
The TL;DR is as follows:
It is implemented on top of another cryptocurrency with smart contracts. (Not really familiar with this, taking it as a cons.)
Uses a WoT for both issuance (must be verified by three existing members to join like #duniter) and settlement (payment can only be done by chaining trust, like #Ripplepay / #Rumble http://ripple.ryanfugger.com/ )
Seems to be a good starting point against sybil/fake ids attacks.
Since credit is limited by trust, there is an incentive to balance income and expenditure like a credit-based #LETS / #LocalExchangeTradingSystem plus the UBI means it could be non-deflationary and incentivize usage rather than savings as in facilitate economic transactions while being an #universaldividend token.
my icon is based on a comic i drew last week!
title text: You'd think it'd be easy to just bet money against these people, but you have to consider the probability of them paying up.