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It must be implemented bottom up as well as top down though. In a networked economy there is no need for a central issuer:what we will see is a network of local issuers with a common value standard/unit of account, operating within a framework of trust.
"The future is already here -- it's just not very evenly distributed"
operating within a framework of trust
Trust cannot be granted, trust has to be earned. Especially in this climate where some parties to a transaction .... cough Deutsche Bank cough .... are privileged, creating an asymmetrical power relationship.
Evidence accumulated over the past 3 years shows the Major Banks and Financial Institutions will be supported by governments even if their actions have immoral and/or illegal. Further, government's willingness to Privatize gains and Socialize losses places the onus on the weaker party, or parties, to the transactions irregardless of the facts of the matter.
This business climate, environment, or - technically - Fitness Landscape is not conducive to creating an atmosphere of Trust.
She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
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