The WAT system, as used in Japan, allows for businesses to issue their own tickets (IOUs) which can circulate as a complementary currency within a community. This paper proposes a variation on that model, where the issuer of a ticket can offer a guarantee, in the form of some goods or services. The difference in value, along with a reasonable acceptance that the issuer is capable of delivering the service or goods, allows for a higher degree of confidence in the ticket, and therefore a greater liquidity.
Mitra Ardon and Bernard Lietaer Volume 10(2006) A1-7
To cite this article: Ardon, M. and Lietaer, B. (2006) ‘Complementary Currency Innovation: Self-guarantee in peer-to-peer currencies’ International Journal of Community Currency Research 10 1-7 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2006.002