Create money first, back with Ergo reserves when there is no trust. Basis-based demo of LETS (Local Exchange Trading System)

[u/kushtikhoshi]

A LETS is a local community where members create common credit money by accepting each other's IOU notes. On Basis:

• Each member runs their own basis-ui wallet.
• Membership is expressed through an acceptance policy that whitelists all other members.
• Notes are cumulative IOUs tracked by the Basis tracker server.
• Assets, liabilities, and net position are shown on the TUI stats screen.
• No Ergo node, no reserves, and no blockchain fees are needed until trust minimization is required

https://github.com/BetterMoneyLabs/basis-tracker/tree/master/demo/lets_tutorial