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by susano 2196 days ago
Cool stuff! This seems to effectively be a digital, distributed, implementation of a LETS[1], a system which has had some popularity in various places at various point of the last 40 years.

This sort of system is particularly useful in communities where there is a lack of money. For instance say everybody is unemployed and nobody as money to buy anything, but people would be happy to trade services/goods with each other if there was a way to do it efficiently. They could barter but that is inefficient and it is difficult to match services/goods of different value.

Because the system allows monetary creation, it enables people to start trading even when nobody has money.

It may be useful to check out the circumstances in which LETS were/are used, as it may be a good indication as to which types of community may be most interested in using Offset.

[1] https://en.wikipedia.org/wiki/Local_exchange_trading_system