INTERLACE

The objective of INTERLACE is to use the Abstract State Interaction Machines framework (CoreASIM) open source output of the FP7 FET project BIOMICS to develop a decentralized transactional and ledger architecture demonstrator for B2B mutual credit. INTERLACE will add to the work already started by its coordinator, Sardex S.p.A., to develop this architecture. SARDEX has been operating successfully an electronic, B2B, zero-interest mutual credit system on the island of Sardinia since 2009. The Sardex system (also known as Circuito di Credito Commerciale) enables local economic actors (SMEs in particular) to trade with each other in a trustful and circular fashion with a unique digital trade credit unit. It does this by monetizing the spare capacity of the local economy in the form of mutual, and taxable, credit between participating companies, at zero interest, on a strong basis of trust, solidarity, and local cultural identity. Therefore, INTERLACE addresses very effectively the..