Cred are “IOUs” that represent an individual promise between two people, and as such cannot be transferred. Cred can only be redeemed by providing value back to the person who you issued the cred to.
However, value can be provided indirectly through a “loop” in which you provide value to someone else, who then provides value back to the person you issued the IOU to. In this way cred can enable complex multi-party transactions, just like money. Loops can include any number of people, and are found automatically in the background by the cred software as you carry out your transactions and issue your IOUs.
Community Gatherings and Cred Marketplaces
The cred community will be gathering every other Tuesday evening. The next event is Tuesday, April 8, at the Shambhala School (Gottingen and Russell) and will start at 6pm with dinner, which will be provided by a members of the cred community, and sold for cred. The event will include a presentation on cred, community conversations, and a cred marketplace.
MotivationOur money system is not a level playing field. The game is rigged in a way that tilts the play towards specific outcomes. Exponential growth is hardwired in, and is a major force contributing to the overconsumption of natural resources and the commodification of our world. It doesn't have to be this way, and the cred system is an experiment into an alternative. We aspire to tilt the playing field back in the direction of sustainability and human values.
There are very good reasons for the economic system that we have inherited. On a comparatively empty planet, growth equals success. So the economic systems that have enabled the highest growth rate have had the greatest success. In fact, although there are national currencies and some minor differentiations between countries, we basically have a single global financial/money system. This system has out-competed all the others in it's ability to enable economic growth.