The Trustlines Network targets the problem of fair access to money by implementing money as bilateral peer-to-peer issued blockchain-based credit. We are developing an open source protocol, including a mobile app empowering end-users to make global payments based on their existing trusted social network.
The Trustlines Network is built as a protocol for decentralized configurable IOU based currency networks. The protocol comes with open APIs supporting interoperability with other smart contract based services on the Ethereum blockchain. Get started by checking out the codebase.
The main application is permissionless mobile payments denominated in traditional fiat, unit or time based currencies. The ease of getting started makes mobile payments accessible to the unbanked, i.e. people without ID, cash or a bank account. All needed is a phone, internet and a friend.
The Trustlines Network supports cross-currency payments by users automatically accepting the best achievable conversion rate offered from other users. In effect this makes everyone capable of sending worldwide payments with next to no cost or settlement time.
Seller and buyers can securely trade crypto currencies for fiat money or credit without having to know or meet each other. This feature removes the current centralized gateway barriers for acquiring and using cryptocurrencies
Communities or businesses can create their own interoperable complementary currencies. Communities pursuing a local circular economy can for example disable interest or global interoperability, while business networks might customize access criteria to conform with regulatory requirements.
Credit lines are at the core of the Trustlines system and trivially allow users to lend money. Smart contracts can be used to encode the specific terms (e.g. interest rate) of an agreement. Saving is implicitly supported by taking the opposite side of a loan.
Have any better ideas? Great! The Trustlines Network is an open platform extendable by smart contracts on the Ethereum blockchain, allowing everyone to easily build on top of new or existing currency networks. Get started by heading to the codebase
Trustlines Network is still work in progress. We invite everyone to become a part of the movement and help to shape the future of people powered money. Feel free to join us on Telegram and start the conversation with like-minded who also believe in a financial system where money is working for the people.