The future.

Without democratic control over money creation and resource allocation, the market—representing the people—fails to effectively punish harmful behavior in society. Harmful entities manage to secure continuous funding from a central authority that acts as a single point of failure, leading to the perpetuation of large, damaging corporations that prioritize the well-being of a few at the expense of many. A "single point of failure" refers to a part of a system that, if it fails, will stop the entire system from working. Curtailing funding is the most effective and efficient way to stop a harmful entity, as even the most prominent entity will die rapidly without funds from the public. These centralizations also hampers technological progress by other means.

Consider the example of a local lingerie designer starting from nothing, without collateral, credit or income history. She is trapped in a true Catch-22 with nowhere to go. Banks focus solely on specific financial records rather than potential human capabilities or alternative measures of creditworthiness. While venture capital has played a crucial role in revitalizing various industries, it is relatively small compared to the capital managed by banks and pension funds, and not all projects meet their guidelines. As a result, she remains trapped, a wasted potential human force.

That’s why we envision a future where the economy is fundamentally transformed by the decentralization of monetary power. In this new landscape, each individual issues their own currency, democratizing money creation and resource allocation at once. Instead of letting a central authority decide who gets funding, this is, decide the shape and color of our World, members of the community would have a say in how resources are allocated. This is a necessary condition for expanding individual liberties. This framework dismantles centralized economic authority as a result, empowering everyone to shape the economy, giving those performing meaningless tasks at least the chance to become creators.

Under a decentralized monetary system, the lingerie designer starting from nothing has the right to issue her own currency (debt), effectively promising the market, the community, that she is worthy of their valuable resources. It is the community, not a disconnected financial analyst, that decides her worth. The market, having interacted with her and consumed her products, is far better equipped to make this judgment. This system gives her a chance to bypass traditional financial barriers that punish individuals born into disadvantaged families. Further, the market is better incentivized to make a good judgment, as they will personally feel the pain if the borrower fails.

The underlying mechanism of this economy is a video based social network app where individuals showcase their offerings, and the community actively participates in economic decisions. This platform not only facilitates the exchange of goods and services but also serves as a forum for reputation management and democratic engagement in the resource allocation process.

She begins building her reputation by sending costly signals, such as filming herself manufacturing remarkable pieces of lingerie or going door to door in the physical world to showcase her talent, skills, and determination. Eventually, a reputable member of the social network, or a collective of smaller members, decides to give her the initial push by buying her currency with already established currencies. This allows her to purchase the necessary resources to start her business, going from zero to something. Think of her issued currency as company shares (Governance tokens) that grants investors the power to vote on business decisions. As the designer's reputation for quality and innovation grows, so does the value and acceptance of their currency in the marketplace as a medium of exchange (Utility tokens). Thus, initial investors holding her currency have the incentive to support her through advertising, mentorship, recruitment support, and other means. This aligns closely with Friedrich Hayek’s vision of competition in currencies fostering not only economic efficiency but also democratic involvement.

Individual success in this marketplace, where multiple currencies coexist, arises from gaining the initial support of other members and is sustained over time by meeting their needs and desires; offering remarkable products and services.

The Central Bank and commercial banks will become obsolete because the people collectively will control the money supply and resource allocation. There will not be excessive money creation because market forces will determine how much debt an individual is allowed to issue. The issuer will face consequences if they issue too much or too little currency. Additionally, Central Bank-like induced financial crises will be a thing of the past because there will be multiple currencies, creating independent markets that stabilize the economy through competition.

Moreover, in this system, individuals are incentivized to behave well and in accordance with socially accepted norms because their reputation directly impacts the value and capacity to issue new currency. This setup fosters a community-oriented business environment where mentorship, peer support, and collective decision-making emerge naturally, promoting an ecosystem where status and prestige are earned through contributions to community welfare and business success. In contrast, the current monetary and economic system, where the Federal Reserve controls the money supply and banks decide who receives funding, doesn't allow people to fully capitalize on their good behavior and interactions within society. This lack of immediate reward for good behavior and penalty for bad behavior leads to division, hate, and loneliness.

This model proposes a radical reimagination of resource allocation as inherently democratic, participatory, and aligned with the principles of Free Banking as envisioned by Hayek, where society's preferences and beliefs freely determines the value and success of each currency, each individual.

Unify and stand up! Together, we can have a say in how life should feel and be experienced. We need to take the power back from the banks and centralized financial institutions. They are ruining our health, our planet, and our peace by lending money to harmful enterprises. Remember, they are powerful because they manage our money. We have the power to limit their influence by no longer delegating our investment decisions to them. They lack the incentives to act in our best interest as investors, let alone society. We need to start taking the responsibility of engaging directly in credit investing. By taking control of where the resources goes we can create a world that better serves our preferences.