[stagas]

There are local communities around the world that run their own credit lines for exchange of goods outside of the banking system, so it's not that Offset is enabling something that isn't happening already. Maybe the software is more convenient but is it any more different? I'm trying to understand. My question is what's preventing few people accumulating trust and credit lines and eventually becoming bankers for this system? Everybody needs bread, but those that sell bread don't need javascript applications, so there has to be a middle man even in this system for me to buy bread. The current banking system exists because it has established credit lines with goods that are almost impossible to acquire without a middleman, like petroleum, electricity, infrastructure.

[rjmunro]

> My question is what's preventing few people accumulating trust and credit lines and eventually becoming bankers for this system?

The way I understood it nothing is preventing people doing that. Quite the opposite, in fact. That's the whole idea. That's what is supposed to happen. The difference is that the barrier to entry for those people is essentially nothing, rather than having to start an actual bank, which will encourage local competition, keeping fees low.

[thinkloop]

> My question is what's preventing few people accumulating trust and credit lines and eventually becoming bankers for this system?

That would be great, it would be more credit for everyone and wouldn't take away anyone else's credit - and if they start misbehaving they can be quickly replaced.