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By trusting to real deeds of people

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Our approach, based on trustless trust technologies could help people to start work in a reputation p2p economy.

Image by Rainier Ridao

In 2017 1.7 billion people around the world were unbanked. This means that about 25% of the world’s adult population is excluded from the economy. Most of them (over 60%) just have not enough money to use.

IOU propose’s a solution that revolves around community scoring for unbanked people.
IOU realized the solution from ideas of using mutual surety bonds by Nobel Laureates Frederich von Haiek and Muhammad Yunus and using blockchain technologies to make them a reality.

Image by Church of the King

Communities can start with the peer to peer (P2P) exchange of IOU’s and after enough IOU’s have been exchanged and the issuers of them rated organizing a communal surety scheme as a collateral for loans can become a reality.
Based on community sureties loans can be collateralized allowing lenders to feel comfortable with the risk and thus lend. Communities can assist their members in funding projects and businesses.

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IOU on the blockchain!
- is best explained by Sheldon Cooper as Cooper's Coupons in 'Big Bang Theory' series, episode "The Weekend Vortex

In nearly every jurisdiction IOUs are not regulated as financial instruments. IOUs are typically recognized as civic debt receipts and usually legally compliant to be freely traded

IOUs can be issued as tokenized promissory notes, that can be a currency issued by any private party, anytime, anywhere. This promissory note is tokenized and governed by smart contract; a digital loan document that can be used as a private alternative currency. IOU tokens looks like digital currencies backed by issuer’s reputation, the terms and conditions stated in the promissory notes. IOUs can be private and solely under the exclusive control of the issuer and the holder.



IOU was inspired by ideas of Nobel laureates - Friedrich von Hayek, and  Muhammad Yunus who suggested developing  "personal money" and mutual sureties as a way out of poverty.

  1. Nearly 1/2 of the world’s population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day.[1]

  2. 1 billion children worldwide are living in poverty. According to UNICEF, 22,000 children die each day due to poverty.[2]

  3. 805 million people worldwide do not have enough food to eat. Food banks are especially important in providing food for people that can’t afford it themselves. Run a food drive outside your local grocery store so people in your community have enough to eat

  4. ​1.7 billion people around the world were unbanked in 2017. This means25% of the world's adult population. are excluded from economy Most of them (over 60%) do not have not enough money to sustain themselves. 

    B. Klein in a 1974 article “The Competitive Supply of Money” and the future Nobel laureate F. von Hayek in 1975 in the book “Denationalization of Money” put forward the idea of “private” currencies. At the same time, it was a question of competition of private banking institutions, but on the international stage. Hayek pointed out that the existing monopolization of money issuance and circulation leads to all the imbalances inherent in it and the: a shortage of a resource, a decrease in the quality of money as a resource, and corruption of the system as a whole.

    IOUs as "personal money" is developing of  “private” currencies idea from von Hayek to alleviate these problems and free the populace of this monopoly.


+1323916-IOU-I (+13239164684)

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