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The missing part is a "credit money" layer not just credit. Drafts issued against value given, not just a simple promissory notes. Negotiable credit is a very different thing to credit money. Why the interest?
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The missing part is a "credit money" layer not just credit. Drafts issued against value given, not just a simple promissory notes. Negotiable credit is a very different thing to credit money. Why the interest?
So you are making digital negotiable instruments?
But you said Bitcoin is not money because it doesn't have a "credit layer", and now you agree a simple promissory note for Bitcoin is just that.
Isn't every Bitcoin custodian issuing digital Bitcoin negotiable instruments?