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Forum Post: The People's Credit Agency?

Posted 2 years ago on Nov. 16, 2012, 9:04 p.m. EST by CryptoFreak (4) from Tulsa, OK
This content is user submitted and not an official statement

Hey Everyone,

I'm a software developer who's been following the Occupy movement since its beginning. While I don't agree with everything the movement advocates, I find myself in enough agreement to want to get involved and help change the world for the better.

One of the things that seems to be keeping people down is the absolute unfairness of the credit system. So, I was thinking, why not toss the system out and create something new? That's what my post is about tonight.

Obviously, we need to move away from the corporate backed credit system. And ideal situation would be a system of person to person loans where we backed each other financially and entered into non-coercive, voluntary, contracts with each other. So my thought is to start with "The People's Credit Agency"

The People Credit Agency is a software program that would be available to anyone wanting to participate. People wishing to borrow from others would register and receive a number that they would provide on their loan request. The lender (another human being, not a bank or loan company) would then be able to put that number into the system and check that persons payment reputation before deciding to make a loan to that person or not. Of course, as the person paid the money (or Bitcoin or whatever was lent) back, that would be added to their reputation report.

Slowly, we'd build a community of trust where we literally could lend to complete strangers, similar to the way the banks do, with confidence and without the exploitative motivations banks and loan companies have.

So what do you think? Could it work? Would you use it? I'm willing to throw my hands in and write the software and provide the initial infrastructure if we agree it's viable.