The Cryptocurrencies Chronicles - part 1

 In one of my many journeys, I happened to be in a country where people didn't use money.  It wasn't a swap-trading or a barter economy like the ones in the ancient societies. Instead of money that people used personal obligations which value was based on the realiability of the man that released it. Every obligation, or bond, was a slip of paper with the name of the man who released it, so that we could say that those obligations were, in a way, the money that people used. 

Every individual, in that people, minted his own coins, but the value of each slip of paper, of each bill in that currency was given by the name of the man who signed it. And his name, his reputation was not fixed and stable: it changed. Everyone who got that bill could write on it to endorse or diminish the reputation of the signatory. 

It wasn’t a simple system, as you can imagine. The financial and social nature of their currency was predominant on the use as exchange means. The slips of paper were in fact mostly a way to have the power and influence of every citizen ensured and monitored by the community. That’s why I said that they didn’t use money. 

There are a lot of detail and stories I could tell you about that society and its economy. But I want to let you imagine what using such a “cryptocurrency” could imply. 

;)