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RE: Dharma Protocol: Tokenized Debt and Funding Through Decentralized Systems
Hi @reverseacid thanks for inviting me to read your post. Although the subject is way out of my expertise it is a very logical step in the process of moving away from fiat currencies and using the blockchain into a postive force for advancement of trust in a new system.
I am not a great fan of debt but I am a realist so it maybe a necesary evil.
I still cant understand why countries are in debt it just smacks of bad management of our taxes.
But a new company which needs funds for a new start up and a sound repayment program has obvious advantages for small people to be part of new and exciting projects for the advancment of society. 😎
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I agree with you @andyjem
Debt is a danger, but a necessary danger. It helps provide liquidity in between equity financing. It also helps lift people up from tough situations. Arguably it has put a lot more people in tough situations compared to lifting them out.
Dharma is quite interesting in this regard. It's a great take on the current financial system and actually quite ambitious given the size and monopoly of banking. This could do a lot of good for companies and startups. It can make debt investing (bonds and debentures) a much more transparent market.
Fiscal deficit is a whole other topic. Let's not even get into governments mismanaging funds 😝
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