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About: Smartbond (monetary system)     Goto   Sponge   NotDistinct   Permalink

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Smartbond is a monetary system, based on a currency of the same name, which operates independently of any government institution. The system implements economic principles including the Friedman k-percent rule (with the money supply growth rate fixed at 6%), and the avoidance of fractional-reserve banking. The rules of the Smartbond system also include a guarantee that all money supply growth is distributed as interest to currency holders, and an exchange rate floor (against USD) backed by reserves. The system uses blockchain technology to keep track of units of the Smartbond currency. This allows for its rules to be applied automatically rather than through the institutions of a sovereign state, as a traditional monetary system.