Axio Monetary System – Henry Gleizer
A monetary system is the set of institutions by which money is maintained in an economy. At a minimum, this system must provide means for maintaining accounts, performing transactions, resolving disputes, as well as making and servicing loans. While money provides the means for implementing such a system.
The primary reason cryptocurrencies remain a mere curiosity is because they failed to provide a functional monetary system. For example, cryptocurrencies are able to provide accounts and to perform transactions, however they are not suitable for making loans or offer a means for resolving disputes. As a result, current cryptocurrencies are unusable for business purposes.
The Axios Foundation will provide an Axio based monetary system comprising an Axio bank, a currency exchange, and a legal system. These institutions will provide the minimum required to maintain an economy. The Foundation will also provide payment methods that will support free real-time transactions, enabling the Axio to compete against the established currencies.
Axio will be issued as a debt, and as this debt is paid a corresponding amount of axios will be extinguished thus increasing the value of the Axio by the amount of the interest paid on the debt. Unlike other debt-based monetary systems, this process of money creation will be recorded in a blockchain so that the system could be audited, and control of the system will operate in a similar way to a credit union, which is controlled by its members and operated on the principle of people helping people.
With so much going for it, the Axio is positioned to become a dominant player in the race to create the next generation of cryptocurrency. As such, it has enormous potential.
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