It has long been my position that a real alternative to fiat money as a means of payment requires reclaiming the “credit commons,” i.e. establishing community control over credit. It is producers and sellers of real value who are the ones who are actually qualified to issue a currency into circulation. They can do so individually by using their own private voucher currencies redeemable for the goods and services they are ready, willing, and able to provide, or they can do it in cooperation with others by pooling their commitments and jointly issuing a common voucher currency. Such a currency can then circulate generally for other to use to pay one another instead of using dollars. Euros, pounds, or other government fiat currencies.

My paper titled, Invoice Factoring as the Basis for a Digital Token Currency, presented at the RAMICS Conference in Rome on November 6, 2024, describes how that can be achieved by creating a digital token currency that, unlike present-day crypto currencies, is based on, and redeemable for real goods and services. This presentation describes the structure, processes, and protocols for creating and circulating a digital voucher token currency on a continuous recurrent basis. I’ve summarized my proposal in this 12-minute video posted on YouTube.

And you can read the full paper, here.