Yuri I mean credit for the value a person adds to the world after their value has been produced.
I have to admit I don’t really understand how your system of IOUs works, it appears to be based on a very large chunk of trust. Hence the reason I assumed you meant it as satire.
Banks are classic seats of Embedded Growth Obligation. Like so many other kinds of business, they have to do questionable things just to survive, just like the rest of us. None of us are immune. If the value of a currency can be manipulated by one or the other parties in a contract based upon it, then they can pull the carpet from under any deal, anytime. Once we’ve been ripped off by a few “Business” dealings ourselves in modern life, it soon becomes apparent that the best deals (Maximum profit) is when one or the other parties gets ripped off, receiving nothing in return for whatever was given.
Currently, most people do not receive any payment for their value added to the planet.
Distributed ledger can be used to create a cryptocurrency for each person individually. Everything a person says and does can be codified with that currency. If the person then builds a reputation in the same way as we need to do in normal life, then their information becomes something of value, thus their personal currency gains in value.
A component missing from the neoliberalism prison piece that I wrote, is the concept of apparent infinite wealth that we could have from the sun, and the apparent growing necessity to enable it.
Banks could conceivably have a future role as custodians of that wealth, assigning it to individuals in return for their value added, in the form of their personal crypto-currencies.
Some banks are already looking at the concept of solar powered wealth generation, just as they are also looking at cryptocurrencies.
But to be honest, I think the assignment of solar generated wealth to individuals could be pretty much automated, especially if someone comes up with a solar generated currency, generated directly as part of the energy generation process, that could be used to read exactly how much energy is created.
There are obviously many questions that need to be answered definitively. I do not have all the answers, but more seem to be flying out of the “Noise” as time goes on.