The app.

Without democratic control over money creation and resource allocation, the market, this is, the people, will fail to punish harmful behavior effectively. This results in the perpetuation of large, damaging corporations that prioritize the well-being of a few at the expense of the many.

That’s why we envision a future where the economy is fundamentally transformed by the decentralization of monetary power. In this new landscape, each individual issues their own currency, democratizing money creation and resource allocation at once. Instead of letting a central authority, managing people’s money, decide who gets funding, members of the community would have a say in how resources are allocated. This is a necessary condition for expanding individual liberties. This framework dismantles centralized economic authority, empowering everyone to shape the economy, giving those performing meaningless tasks the chance to become creators.

Consider the example of a local lingerie designer who is just starting from nothing, without collateral, credit or income history. In the current system, she is trapped, with nowhere to go. Banks focus only on past financial records rather than potential future success, which is a flawed policy if we aim to maximize technological progress. However, under a decentralized monetary system, she has the right to issue her own currency, debt. This empowers her to bypass traditional financial barriers that punish individuals born into disadvantaged families.

The underlying mechanism of this economy is a sophisticated social network application where individuals showcase their offerings, and the community actively participates in economic decisions. This platform not only facilitates the exchange of goods and services but also serves as a forum for reputation management and democratic engagement in the resource allocation process.

She begins building her reputation by sending costly signals, such as filming herself manufacturing remarkable pieces of lingerie that showcases her talent, skills, willpower, and knowledge. Eventually, a reputable member of the social network, or a collective of smaller members, decides to give her the initial push by buying her currency with already established currencies. This allows her to purchase the necessary resources to start her business. Think of her issued currency as property rights on her ventures that grants investors the power to vote on business decisions. As the designer's reputation for quality and innovation grows, so does the value and acceptance of their currency in the marketplace. Thus, initial investors holding her currency have the incentive to help her out, through advertising and recruitment support, etc. This aligns closely with Friedrich Hayek’s vision of competition in currencies fostering not only economic efficiency but also democratic involvement.

In this system, the currency's value reflects the community’s trust and expectations in the lingerie designer’s capabilities. Individual success in this marketplace, where multiple currencies coexist, arises from gaining the support of others and is sustained over time by meeting their needs and desires. This is achieved by offering remarkable products and services in the marketplace that can be bought with any currency, including the one issued years earlier by the producer who is now selling the product.

Fractional reserve banking and the Central Bank will become obsolete because the people collectively will control the money supply and resource allocation. There will not be excessive money creation because market forces will determine how much debt an individual is allowed to issue. The issuer will face consequences if they issue too much or too little currency. Additionally, Central Bank-like induced financial crises will be a thing of the past because there will be multiple currencies, creating independent markets that stabilize the economy through competition.

Moreover, in this system, individuals are incentivized to behave well and in accordance with socially accepted norms because their reputation directly impacts the value and capacity to issue new currency. This setup fosters a community-oriented business environment where mentorship, peer support, and collective decision-making emerge naturally, promoting an ecosystem where status and prestige are earned through contributions to community welfare and business success. In contrast, the current monetary and economic system, where the Federal Reserve controls the money supply and banks decide who receives funding, doesn't allow people to fully capitalize on their good behavior and interactions within society. This lack of immediate reward for good behavior and penalty for bad behavior leads to division, hate, and loneliness.

This model proposes a radical reimagination of resource allocation as inherently democratic, participatory, and aligned with the principles of Free Banking as envisioned by Hayek, where society's preferences and beliefs freely determines the value and success of each currency, each individual.

Unify and stand up! Together, we can have a say in how life should feel and be experienced, because without us, they are nothing. We need to take the power back from the banks and centralized financial institutions. They are ruining our health, our planet, and our peace by lending money to harmful enterprises. Remember, these big banks are powerful because they manage our money, the money of the people, not because they own the resources they manage. The People have the power to limit their influence by delegating no more their investment decisions to people that simply have no incentive to act in the best interest of the society. We need to take our money back from pension funds and stop leaving our money at banks. We need to start taking the responsibility of engaging directly in credit investing. By taking control of where the resources goes, we, the people, can create a world that better serves our preferences.