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Debt is synonymous with IOU.
Debt is not synonymous with printing money out of thin air.
The 1:1 guarantee is an implementation detail. Could work either way, or a mix of guaranteed and not-guaranteed.
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Debt is synonymous with IOU.
Debt is not synonymous with printing money out of thin air.
The 1:1 guarantee is an implementation detail. Could work either way, or a mix of guaranteed and not-guaranteed.
Sounds like IOUs which is basically fractional reserve banking and printing money out of thin air to make it work? Or would it be like a guaranteed one-to-one? Which sounds like Liquid Network in a way.