Marmara Credit Loops (MCL)
To the contrary belief, banks are not the sole institutions for creating money based on credit. In many countries all over the world, like banks, individuals are able to create money through post-dated cheques or promissory notes in a decentralized manner.
Inspired by the paper-based blockchain nature of these promissory notes and post-dated cheques’ circulation, in the same analogy, Marmara Credit Loops Project aims to digitalize the blockchain while solving the problem of nonredemption of these tools.
The early release of this Project, named as Version 1, solves the problem of non-redemption with 100% collateralization through trustless blockchain mechanism.
The second version of the Project aims to solve the nonredemption problem based on a trust based blockchain system with the aid of a protective layered architecture of nodes in credit loop layer formed against defaulting.
Marmara Credit Loops