ValueCraft is an emerging platform for creating ecosystems for multiple measures of value. ValueCraft networks are backed by us all, not by a central bank or any other central authority. It is based on “trustlines networks,” a new way of representing how much we are willing to respect our friends’ obligations.
The basic idea ValueCraft is based on is the network of people who have a mutual trust on each other. Anyone can create an explicitly represented relationship with a friend, allowing them to borrow or pay any amount up to a specified credit limit, expressed in anything considered valuable. For example, one can create a trustline for $100, for 10 hours of work, or for 4 beers.
At this basic level there is nothing new. People have always trusted their friends, lending things and providing services. The new thing is in explicitly representing the relationships, allowing the network to scale up, eventually into a global networks.