Rethinking Money Part 3: How Our Software Changes Everything

Do you know how to create better money and the perfect economy? With our software, you can do both and see how your answer competes in the open market.


Our software is a platform for building entirely new financial systems-starting with reinventing money itself. That's right. You can reinvent what money is and how it works.

What Our Software Does

Our software does four basic tasks.

1.    It enables you to create your own digital currency.

2.    It processes transactions on your currency.

3.    It enables you to create new, innovative types of financial instruments such as loans, contracts, etc.

4.    It processes your financial instruments as if they were built into the system.

What It Means for You and Me

In previous posts, we explained why a government monopoly on the issuance of money eventually destroys democracy. We've also shown that our fractional reserve banking system generates debt, poverty, and inequality. The software we are producing at Cognisaya, LLC is specifically designed to solve these problems.

New Forms of Money

You can now create new forms of money and money-like financial instruments. These form the basis for an entire economy designed by you according to your rules. When you create an economy, it operates according to the rules of the free market. You decide which economies you want to be part of. You decide what "currencies" are best for you to use. You decide who you trust enough to do business with. If you don't like what's happening in the economic group you're part of, you simply walk away.

The purpose of our toolset is to democratize the economy and to distribute control over it to all of those who participate in it-in other words, we're restoring economic democracy. Currently, our economy is highly stacked in favor of big money and big government. With our tools, you can change that. You can make the economy in which you participate fairer to all involved. You do it by innovating new financial instruments that are humane, fair, and profitable. And the economies you create should be profitable. These days, it seems we have to apologize for being successful. There's no reason for that. If the economy you create is fair, humane, and profitable, then should be seen as a success.

With our tools, you can reinvent money itself. You can rethink the entire economic system you participate in. It's all up to you. With these capabilities you can:

✦    Escape inflation.

✦    Insulate yourself against declines in the national and global economies.

✦    Level the economic playing field so that everyone can complete equally.

✦    Decentralize the economy.

✦    Create protections for yourself against the lunacy of financial institutions that are "too big to fail."

✦    Create and sell new innovative financial instruments that are profitable and humane.

✦    Supercharge your business with a merchant-specific currency.

✦    Build protections for your local economy.

✦    Solve seemingly intractable social problems.

✦    Provide your business with short-term liquidity even when banks have tightened credit.

These are BIG claims, but every one of them is achievable if you are willing to rethink what money is, how it works, and what it's for.

New Economies

Want some specific examples of you what can build with our software? Here are a few.

✦    Credit Clearing Cooperatives

✦    Innovative New Financial Instruments

✦    Commercial Credit Circuits

✦    Complementary Currencies

✦   Currencies for State and Local Government

✦    Denationalized Currencies

The following sections provide a brief introduction of each of these. However, all of these topics are huge. Indeed, entire books have been written about every one of them. So for now we'll just provide a brief explanation of what these are.

Credit Clearing Cooperatives

A credit clearing co-op is a way of buying, selling, and doing business with certified IOUs instead of money. The system is designed such that inflation is not possible. You network your co-ops together to provide a broad range of goods and services. The advantages of credit clearing co-ops are:

✦    They are decentralized local economies.

✦    You are an owner. You buy stock in the co-op so you have a vote in its policies.

✦    You design your economy the way you think is best. No one else can tell you what to do.

✦    The certified IOUs that you use are as private as cash. There is no record of your purchases in the system. In fact, it is impossible for the system to track your purchases at all.

✦    Even if the dollar fails completely, you still have value in the co-op system so you can still buy, sell, and do business to a certain extent.

✦    You can have new chances for investments that would otherwise not be possible.

✦    Co-ops that invest wisely can provide their members with services such as private schools for their children, a private health care system, retirement planning and saving, and many other tasks that we currently allocate to the government.

✦    Innovative New Financial Instruments.

Innovative New Financial Instruments

Our system enables you to define legal contracts for innovative new financial instruments that you create and deploy. You are not forced to do business the way it's always been done. You can create financial instruments that are fair, humane, and profitable. For instance, one such financial instrument that we've designed and dubbed the "unmotgage" enables you to buy a house without ever paying interest on a loan. We'll be blogging about this in just a few weeks.

New types of financial instruments like the unmortgage give you new ways to invest, do business, and create income for yourself. These new tools work especially well when used within the context of credit clearing cooperatives. They give both you and your co-op new ways to prosper.

Commercial Credit Circuits

Commercial credit circuits are very much like credit clearing co-ops. However, they are tailored for business and can provide short-term, insured liquidity even if banks aren't lending. Joining a commercial credit circuit is perfect for businesses that normally require bridge loans from banks in order to operate until they are paid for the product or service they produce.

Complementary Currencies

Complementary currencies are actual currencies that you release for business or social purposes.

One example of a complementary currency is airline miles. Airlines give miles to people for using their services a lot. Hotels and car rental companies often allow you to partially pay for their services with airline miles. So airline miles is really a currency. We don't normally think of them as money, but they are actually a business-purpose complementary currency.

Complementary currencies can help your business in a number of ways. For instance, suppose you own a restaurant called My Thai Place. You decide to help your business by using our system to create your own digital currency called MyThai Bucks. After a short setup on our web site, you're ready to issue your new currency. You can give them out with the purchase of meals, and people can use them to partially pay for future meals when they return.

Now suppose it's a Thursday night and business is slow. You can announce through social media that you are accepting MyThai Bucks for the full value of a meal when customers buy another meal and pay full price. In other words, you're running a buy-one-get-one-free special for your preferred customers. It's likely that some of them will notice your announcement and show up with a date, spouse, relative, or friend to feed.

Nonprofit organizations, businesses, and governments can also use complementary currencies for solving social problems. For an example, check out our blog entry on how to get a $1 million dollar grant to a school district to do the same work as a $100 million dollar grant.

Community Currencies

Businesses and nonprofits can release digital currencies that help keep value in their communities. At present, there are over 4,000 such community currencies in operation. Literally hundreds of them are in the US. In the coming weeks, we'll be discussing the value and opportunities that community currencies create.

Currencies for State and Local Government

In the US, it is against the Constitution for states and local governments to issue legal tender. The legal tender laws state that anyone who wants to pay with US dollars can do so and their money must be accepted. However, there are ways to put other currencies on par with legal tender if you know how.

In such cases, states and other municipalities can legally issue their own currency (even through it's not legal tender) that is freely usable in their own areas. The currency can be backed by a bond or other financial instrument that provides an anticipation of future tax revenues. This digital currency can then be spent just like any other form of money.

Denationalized Currencies

Is it legal to issue your own currency that competes directly with the US dollar and other national currencies?

Well...that depends. In most countries, including the US, the answer is yes. In others the answer is no.

One way to issue your currency is as private bank notes. There are several countries around the world that allow the publication of private-issue bank notes. You can issue your currency from a bank there and use it in most nations worldwide.

Be aware, however, that there are significant regulatory hurdles your currency must pass over before it can see wide use. Of all of the possible uses of our technology, this is probably the hardest to make work. But it is potentially the most profitable.


Issuing your own currency can create new opportunities for your business, reinvigorate your local economy, provide an escape from inflation, and give you a fair voice in your world. The possibilities enabled by secure, digital forms of money are limited only by your imagination.

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