IOTA

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This is a deposit-based, *insuring*, PropertyLeft, Title+Ticket system:


I imagine we purchase land and tools to create
small-scale Villages which are then sovereign
governments in their own right.

Here's a sketch of my thinking for a currency that is
backed by the Means of Production and Promises to
Labor from Workers or from guilds or unions of sorts.


Groups could issue what I've been calling the IOTA - the Intra-Owner Trade Agreement which is backed by: - Commitments of Sources: These is the physical assets needed to produce food and shelter for those Villagers. - Commitments of Skills: These are the various kinds of goals that need to be accomplished within the Village. The IOTA is invalid Unless both of these conditions are met. -- The IOTA enforces the following constraints on the Sources: - Product is Investor's Return: The Product is not sold*, because each Villager already owns the exact** amount of Product from their ownership in Sources. * Surplus can be sold to those who own insufficient Sources. ** Predictions are never exact, but we can 'hover' nearby. Most Villagers will 'overcommit' as Insurance against low production seasons. - Profit is Payer Investment: When Surplus is sold to non- owners, the Profit must be treated as an Investment from that Payer - so that latecomers gain as much control as they are willing to Pay, and ultimately Work for.