CHARTER OF IOUERS
CONGRUENT WITH NATURAL LAW AND BASED ON THE United Nation's DECLARATION OF HUMAN RIGHTS
ARTICLE 23 (3) EVERYONE WHO WORKS HAS THE RIGHT TO JUST AND FAVOURABLE REMUNERATION ENSURING FOR HIMSELF AND HIS FAMILY AN EXISTENCE WORTHY OF HUMAN DIGNITY, AND SUPPLEMENTED, IF NECESSARY, BY OTHER MEANS OF SOCIAL PROTECTION.
ARTICLE 25 (1) EVERYONE HAS THE RIGHT TO A STANDARD OF LIVING ADEQUATE FOR THE HEALTH AND WELL-BEING OF HIMSELF AND OF HIS FAMILY, INCLUDING FOOD, CLOTHING, HOUSING AND MEDICAL CARE AND NECESSARY SOCIAL SERVICES, AND THE RIGHT TO SECURITY IN THE EVENT OF UNEMPLOYMENT, SICKNESS, DISABILITY, WIDOWHOOD, OLD AGE OR OTHER LACK OF LIVELIHOOD IN CIRCUMSTANCES BEYOND HIS CONTROL,
We, IOU community, also known as "IOUers",
WHEREAS THE CURRENT FINANCIAL SYSTEM
became ineffective, and does not satisfactory realize the requirements of contemporary society dynamics as per Articles 23 (3) and 25 (1) of the UN’s Declaration of Human Rights,
brings tremendous inequality between countries and peoples,
is orientated towards short-range profits which contributes to social and ecological crisis's,
has a linear one-dimensional national fiat currency approach that thwarts development in wide areas of the worlds economies,
AND FOR THESE ENDS THE IOU COMMUNITY PROVIDES THE ABILITY
to practice peer to peer free trade, a stepping stone to living together in peace as good neighbors,
to unite and free peoples economic strength through free trade, and for that good will to maintain international peace and prosperity,
to ensure, by the acceptance of natural law principles that that trade commerce is voluntary, that force shall not be used, save in the common interest of all,
for the promotion of the economic and social advancement of all peoples,
HAVE RESOLVED TO COMBINE OUR EFFORTS TO ACCOMPLISH THESE AIMS
Accordingly, parties are free to transact as they desire in an unhindered peer to peer manner. In doing so individuals can create and issue tokenized promissory notes, IOU, redeemable for goods and services as mutually agreed and terms specified. These notes are controlled only by the issuer and holder. The IOU can be used in further exchanges as an alternative “backed” currency. The fungibility of tokens and the ratings of issuers of IOUs by the community using them provides those that do not know each other or are in different locals the information and ability to transact.
The issuance of private currencies, IOUs, will promote new ways to launch projects, businesses, pay for education, assist people to achieve their goals, work their way out of poverty or remain self sufficient in economies that are ever changing and excluding.
The economic self sufficiency extends to the community of those using IOU's, tokenized promissory notes, because of their peer to peer collaboration. The voluntary terms between the issuer and holder and their reciprocity constructs a strong community as the participants work together to accomplish their and each others goals. This enriching cooperation is immeasurable.
We declaring IOU CHARTER
PRINCIPLES OF TRADE : DECLARATION OF FREE EXCHANGE
1) Everyone has the same rights. No one has any more or fewer rights than anyone else.
2) All parties are free to exchange their goods and services, on a voluntary basis, in good faith, where one receives only that which they gives in exchange as per mutual agreement.
3) Tokenized promissory notes can be issued by any party, anytime, anywhere and as per agreement be used as payment and exchange of value. Issuers can create their own IOU, tokenized promissory notes, backed by value; goods or services.
4) Tokenized promissory notes, IOU, will include the full legal name of issuer, date of issuance, serial number, detailed description of what the collataral is, location, and other pertinent information unique to said exchange.
5) IOUs do not charge interest and have no specified payback date.
6) IOUs act as a debt-free value-backed currency giving anyone who holds the promissory note the right to trade or redeem it for value; the agreed upon goods and services.
7) Issued IOU, promissory notes, are soeley under the control of the issuer and holder of said instrument.
8) Issurer is unequivically obligated to expeditiously, as per terms of note, execute IOU.
9) Issuers performance is rated by the IOU holders. These ratings are available and visible for the community to use for future transactions.
10) The IOU Charter may be ammended for the betterment and protection of the community.
Stan Taktaev, Jordan Gitterman