Identity, Reputation, & Local Economies
summary
Describes a 40-year Turkish check-based credit ecosystem where merchants sign future-dated checks that change hands an average velocity 5, creating roughly $1 trillion of reputation-backed credit in 2018; proposes reproducing that mechanism on smart contracts and wallets so merchants raise capital by issuing Zoos gift-card loans that circulate (example: $20 cash to bakery turns into $40 local value); covers identity verification via hashed real-world IDs and zero-knowledge proofs for privacy, plus reputation metrics to underwrite larger loans.
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