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Scoop.it!
Mutual credit systems, like Ryan Fugger’s Ripple (2003), is an economic protocol that enables person-to-person trade at a global scale, through keeping track of each individuals credit or debit balance. The Resilience protocol (Nygren, 2012) describes how to map growth within mutual credit systems like Ripple. Mutual credit traces financial inter-dependence with high accuracy, and […] 
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Scoop.it!
A system in which the currency necessary to mediate a transaction is created at the time of the transaction as a corresponding credit and debit in the balances of the two parties. These systems (LETS and Time Dollars, and the proposed ROCS), unlike fiat currencies, do not require any centralized money supply management.
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