Explain LedgerLoops relative to comons/credit money and Matthew's new paper

[michielbdejong]

How can I explain LedgerLoops buildling on #CoFi working paper 1:
Constructing systems of exchange as a starting point?

[michielbdejong]

This will help: https://github.com/ledgerloops/ledgerloops.com/tree/main/plantuml

[michielbdejong]

The article discusses, among other things:

• distinction between commons model from credit model
• "Money is not the value for which goods are exchanged, but the value by which they are exchanged."
• the price of risk
• mutual credit
• 'joint and severally liable' (each member's credit becomes fungible with each other members' credit)
• balance of trade
• open systems and credit brokers
• routing
• Ripple

a medium of exchange can be a commodity or a promise of a commodity. The challenge of constructing it is to keep its purchasing power stable by managing the market risk or the default risk

[michielbdejong]

Maybe what I get from framing LedgerLoops in terms of this article, is that it is a peer-to-peer contract negotiation tool that can facilitate barter, netting, credit, and payment.

[michielbdejong]

Maybe I should use this as the framing for the next website (before CoFi 2 if possible)