Resilience: a person-to-person safety net by multi-hop debt reduction

ABSTRACT: Ripple, the multi-hop mutual credit system invented by Ryan Fugger in 2003, is an ideal topology for a person-to-person safety net. The web of credit lines that Ripple models can be used as a conduit for reallocation of transaction taxes, used to pay for debt reduction to provide a social safety net for access to basic needs. The result is similar to Silvio Gesell’s notion of “decaying currency”.