TRY IOU TOKENOMICS
How it works
SOMETIMES WE NEED MONEY
But nation-state (fiat) money is almost always debt and expensive in most regions of the world.
To obtain a loan one needs to provide the lender, usually a bank, collateral like a monetary deposit, a mortgage, and assume all their risks. After all of this many times smaller business and personal loans have high-interest rates. and get a loan with a big percent).
IOUtokens open to you another way.
1. ISSUE YOUR IOU
2. Choose Ropsten network.
3. Get some test ether here.
So, Alice, the artist, wants to get service from Bob, the barber but has no money. But she can issue ERC20 compatible IOU token!
2. NEGOTIATE YOUR NEARBY TO ISSUE THEM IOUS TOO
and use IOUs instead of money!
Alice negotiated the sum of her AA01 tokens, transfers this to Bob, and get the beautiful hairstyle. And this deal fixes in the blockchain forever.
3. PAY OFF IOUS AND GIVE FEEDBACK!
Two-months later Bob asked Alice for a cartoon about his hairdressing salon.
After Alice completes the job, Bob burns a part of Alice’s IOU tokens and provides feedback, adding a rating of results.
4. GET LOANS
with better conditions
After some time, as Alice will faithfully execute issued IOUs, her community score will be sufficient to receive loans with better conditions.