Johan's Resilience protocol
October 10, Year 15
If IOUs represent trust, like Ryan Fugger outlined in his seminal work Money as IOUs in Social Trust Networks & A Proposal for a Decentralized Currency Network Protocol, then it goes without saying that coercive taxation is a flawed concept. You can’t just go and take trust from someone. It’s not how trust works.
Just like it’s not cool to take trust from someone, it’s also not cool to lock someone into debt that they cannot bear. And, I believe that that is one of the problems that government tried to solve, originally. (1)
Could it be possible to come up with a peer-to-peer solution to the debt-trap ? Could it be possible to say to someone that “I trust you to pay me back, but if you can’t pay me back, then I’ll gradually let this debt decay” ? To say that “I’ll help you now, and if you face scarce times with little growth, then i’ll free you of your debt. “
That’s what my Resilience protocol does.