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holochain-open-dev / ecosystem

High-level goals for modular, composable networked software commons.
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Facilitate the capacity for community members to extend financial credit to each other #16

Open pospi opened 3 years ago

pospi commented 3 years ago

See https://llavors-mutues.github.io/

There are many elements to consider with this, particularly legal-financial concerns as to how to hold and manage assets in trust via Holochain. Probably requires something like virtualising a shared bank account if needing to interface with the fiat financial system.

bhaugen commented 3 years ago

While I really want the mutual credit feature, if interfacing with fiat financial system happens, I think it would be best to make it a very optional separate feature. It will probably also be a lot more work...

pospi commented 3 years ago

That's very true- nice to have a time-backed (as in Time Banking) or other non-fiat measure as the base currency being traded in an ecosystem. Avoids dependency on oppressive and crumbling legacy financial institutions / nation-state power.

I do however see an often-undertaken transitionary measure being the collective holding and management of funds; eg. OpenCollective or CoBudget. This is also useful in situations like bulk buying cooperatives where membership fees are used to collectively make purchase decisions- participants may opt to be able to extend credit to each other. In all such scenarios there is a legal entity managing a legacy bank account, with custom "virtualised accounting" on top which manages internal transactions and external payments & invoicing as needed.

bhaugen commented 3 years ago

a legal entity managing a legacy bank account, with custom "virtualised accounting" on top which manages internal transactions

We did that in Sensorica several years ago. Worked well. They are still using it.