Matthew Slater and Dil Green on the Credit Commons Protocol

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"Matthew Slater and Dil Green introduce the Credit Commons Protocol - tech agnostic, low friction transactions for all.

A protocol for the New Economy.

This is a recording of a presentation given Jun 4th 2020, hosted by the Circular Trade Analytics group and Mutual Credit Services.

The Credit Commons Protocol - a low level transaction data structure which allows means of exchange transactions between trading entities of any kind, irrespective of their internal arrangements.

Tech agnostic, open source, the protocol defines a mutual credit mechanism that allows disparate trading entities to maintain a shared ledger, for increased financial autonomy, without asking them to change anything about themselves.

This financial autonomy derives from simple continuous clearing - an implicit outcome of maintaining a shared ledger, which reduces the need for fiat/bank money to settle obligations.

For maximum viability, such mutual groups will need to be social/human scale (from 5 to 500 members, probably). However, economies - seen as enabling effective co-ordination of investment decisions across out-groups - exist through network effects, which requires scale. We will show how this simple protocol, can be applied recursively to build federations, and federations of federations potentially spanning the globe, allowing the smallest producers to issue mutual credit with their peers and spend it across the whole network. The system would create beneficial trading relations without use of money, with low transaction costs, incentives towards relocalisation, and without banks or other exploiters of informational asymmetries, with low regulatory risk. We will also present a road map to a fully distributed implementation.

Further we will describe the stepwise Theory of Change which can take us to this vision, starting with easy adoption by existing business networks, proceeding at every stage by immediate 'What's in in for me?' advantages."

More information

- Credit Commons white paper here: - Blog post The Mutual Credit Society