• in a national system, the central bank issues money e.g. USD
  • in an anarchist system, there is no central authority (by design) so a centrally issued monetary system is inherently unworkable.
• what is need is a peer-issued currency system.
  • alice issues alice-credits, bob issues bob-credits
  • similar to a traditional market exchange where you trade a commodity/stock for a national currency in market pairs e.g. BTC -> USD, you can create peer-pairs where you agree to trade with a peer e.g, alice/bob market where 1 alice == 1 bob.
  • Someone else can create another peer-pair e.g. bob/sally where 1 bob == 1 sally, then we can programatically connect these pairs so that 1 alice == 1 sally. this allows us to have an economic model that is free from any central authority but where commerce is possible.

#pull [[labor coin]]