Mutual credit 2.0
MonedaPAR’s outstanding feature is that it is built as a set of user-issued assets on the BitShares blockchain. Therefore, all transactions are public, traceable and secure. Each user can access a faithful record of all of his or her transactions, a feature that previous valuable communitarian commerce experiences failed to have, often being the cause of their decline.
Payments are made on a P2P basis through an electronic wallet. Prosumers can meet in MercadoPAR, a digital marketplace developed by WABA.network. No middlemen are required in any way. Endorsements and overdrafts are represented as user-issued tokens which are distributed with the same electronic wallet that is used for making transactions. Thus, it is always possible to verify the distribution chains of endorsements and the economic performance of the clusters that these invitations give rise to.
In short, Blockchain technology currently plays a key role within the system. The migration of MonedarPAR to high performance Blockchains — like EOS — will allow for higher levels of scalability and flexibility — especially with regard to the decentralization of the network’s government structure — making it truly unique among complementary currencies around the globe.