A New Type of Cryptocurrency, As Old As Civilisation - Holochain Blog

The past few years have seen a glut of news about cryptocurrencies and distributed ledgers. Beginning with Bitcoin’s startling rise to fame as a sort of ‘digital gold’ with no central authority, to the rapid appearance of new players like Ethereum, Ripple, and IOTA in the following decade, it seemed that the tech world couldn’t get enough of crypto.

Read Article: https://blog.holochain.org/mutual-credit-part-1-a-new-type-of-cryptocurrency-as-old-as-civilisation/

In a recent paper, Money Alternatives, I go through the double entry process of the creation of authority based money. That discussion may be an aid in your understanding of how money is created, interest as well as principal. The paper can be found at

The paper also discusses holochain as an equitable response to our present money. If you have any issue in opening it please let me know.


Thanks very much, from one Paul to another. I kinda wish I’d had this paper two weeks ago when I started doing my research – it neatly summarises the history of bank money. Only started reading it and I intend to dig dieeper.