“[T]he crucial importance of the value proposition that mutual credit clearing provides . . . [is] the provision of liquidity to a local or domestic economy, independent of the banking system and without the disruptive and destabilizing imposition of interest.” — Thomas Greco
Mutual Credit - A multilateral exchange network in which endogenously created money serves as medium of exchange. Please refer to chapter two for further definitions.
Endogenous Money - an economy's supply of money that is determined endogenously—that is, as a result of the interactions of other economic variables, rather than exogenously (autonomously) by an external authority such as a central bank, arbitrary commodities such precious metals, or algorithmically as it is the case with Bitcoin and other cryptocurrencies.
The ReSource Protocol - A Distributed Ledger Technology (DLT) protocol, launched on the Celo blockchain, that provides a comprehensive toolbox for the creation of diverse, interoperable distributed mutual credit systems.
The ReSource Network - The first network built on the ReSource Protocol, addressing global small- and medium-sized businesses (SMBs), freelancers, and startups.
Stable Credit - Endogenous money used by participants on ReSource Networks to trade, exchange value, access and repay credit lines. Stable Credits differ from stable coins in the sense that they achieve autonomous, market-derived value stability without having to be hard-pegged to external assets such as fiat currencies.
RSD - A stable credit serving as the ReSource Network’s unit of account.
SOURCE - The ReSource Protocol’s governance token, used to underwrite loans, pay network fees, and participate in protocol as well as network governance. While RSD is native to the ReSource Network, SOURCE serves all networks built on the ReSource Protocol.
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